In a latest development on the fugitive businessman, Vijay Mallya case, the Bombay High Court has asked the Enforcement Directorate (ED) to clarify the present
status of attached assets and settlement proceedings. HC has observed that the prolonged dispute involving the businessman and a consortium of banks should now reach a conclusion. “Actually, this issue needs to be put to an end. The idea is to move on… otherwise the relations and the economy of the country suffer,” Justice Milind Jadhav remarked and sought a reply from the ED to clarify if the civil liabilities had been effectively settled with the recovery of Rs 15,000 crore. “Has everything been ‘done and dusted’?” the HC asked, but made it clear that this would have to be ascertained and confirmed by the respondents. Desai said Mallya’s civil liabilities have effectively been settled as the consortium of banks have recovered approximately Rs 15,000 crore from (Mallya) when compared with the original claim of Rs 6,203 crore odd including interest.” The HC said the ED needs to confirm such a settlement.
