Mallya tweets after debt tribunal attaches assets


Vijay Mallya (Photo: REUTERS/Simon Dawson)
Vijay Mallya (Photo: REUTERS/Simon Dawson)
FUGITIVE Indian businessman Vijay Mallya took to Twitter early today (1) claiming that his properties worth more than Rs 130 billion (approximately £1.3 billion ) have been attached, more than the Rs 90 billion that he said he is accused of “running away with.”
In a series of tweets, Mallya, who now lives in England, questioned whether the attachment of his assets in India was fair.
“The DRT [dent recovery tribunal] Recovery Officer recently attaches my Group assets worth over 13,000 crores in India on behalf of the Consortium of Banks. Yet the narrative is that I ran away with the claimed amount of 9000 crores causing loss to the Public Sector Banks. Where is justice or fair play?” Mallya wrote in his first tweet.
“Every morning I wake up to yet another attachment by the DRT recovery officer. Value already crossed 13,000 crores. Banks claim dues including all interest of 9,000 crores which is subject to review. How far will this go and well beyond? Justified??” he questioned.
He added that despite these attachments, banks and their lawyers pursuing multiple “frivolous” litigations against him.
“And finally, the Banks Lawyers in England have objected in writing to my paying my legitimate tax dues to HMRC which I requested. Irony is Indian State Banks want my money in England to settle an Indian debt already secured and deny payment to the U.K. tax exchequer. Disgraceful.”
On January 5, Mallya became the first Indian businessman to be declared a fugitive economic offender under the Prevention of Money Laundering Act. A fugitive economic offender is someone against whom an arrest warrant has been issued and who has left the country to avoid criminal prosecution.
Mallya left India in 2016 after which the Indian government started extradition proceedings against him.
On December 10 last year, the Westminster Magistrates Court in London ordered the extradition of Mallya to India.