Vijay Mallya, who is currently in UK, has been declared Proclaimed Offender by a special PMLA court in Mumbai. Vijay Mallya, who is currently in UK, has been declared Proclaimed Offender by a special PMLA court in Mumbai. The Debt Recovery Tribunal in Bengaluru on Thursday passed orders in favour of the several banks seeking to recover more than Rs 9,000 crore in loans from the now-defunct Kingfisher Airlines. Owned by Vijay Mallya, the airline, once India’s second largest, was grounded in October of 2012, leaving several of its creditors and suppliers unpaid. Later that year DRT passed orders directing Diageo Plc to deposit the remaining $35 million from the deal with Vijay Mallya.

Source: Indian Express January 19, 2017 08:02 UTC