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Title SBI seizes Goa villa of Vijay Mallya
Image http://bsmedia.business-standard.com/_media/bs/img/article/2016-03/13/full/1457871026-8815.jpg
Summary The government-owned State Bank of India (SBI) has seized a villa of debt-strapped liquor baron Vijay Mallya in Panaji, Goa. Mallya flew to London in March, under pressure from bankers seeking to recover about Rs 9000 cr owed by his collapsed Kingfisher Airline. The SBI Trustee has taken complete charge of this property and the process has ended, said SBI lawyer Vikas Kumar. Creditors, led by State Bank of India, have rejected an offer of partial repayment by Mallya, who had given a personal guarantee for the Kingfisher loan. He has also offered a settlement to his creditors that they have so far refused to consider.
Tags SBI Trustee, Goa, Vijay Mallya
Topic Classified politics > law, govt and politics > government > government agencies, politics > law, govt and politics > government > executive branch, business > finance > investing > venture capital, business > finance > grants, scholarships and financial aid > government grants, business > finance > bank > checks, politics > law, govt and politics > government > state and local government, business > finance > bank > bank account, politics > law, govt and politics > government > heads of state, business > finance > bank > atms
SBI seizes Goa villa of Vijay Mallya
SBI seizes Goa villa of Vijay Mallya
The government-owned State Bank of India (SBI) has seized a villa of debt-strapped liquor baron Vijay Mallya in Panaji, Goa. Mallya flew to London in March, under pressure from bankers seeking to recover about Rs 9000 cr owed by his collapsed Kingfisher Airline. The SBI Trustee has taken complete charge of this property and the process has ended, said SBI lawyer Vikas Kumar.