After a Decade of Litigation, Bombay HC Tells Vijay Mallya and SBI: ‘Time to Move On’
What Happened
The Bombay High Court indicated that the long-running dispute between Vijay Mallya and an SBI-led consortium of banks over recovery of dues linked to Kingfisher Airlines should be brought to a close. The court was hearing Mallya's 2020 petition challenging the use of assets confiscated by the Enforcement Directorate (ED) for recovery of bank dues. Mallya's lawyer argued that the petition has become largely redundant because most of the assets involved have already been attached and dealt with over the past six years.
Key Takeaways
The court stressed that even if the commercial dispute over asset recovery is concluded, criminal proceedings against Mallya will continue independently and must be taken to their "logical end."