SC will hear the plea's filed by SBI and other banks seeking recovery of loan amount worth Rs 8,000 crore from Vijay Mallya. The Supreme Court will on Monday hear the plea filed by State Bank of India (SBI)-led consortium of banks seeking recovery of the loan amount worth to the tune of Rs 8,000 crore approximately given to the liquor baron and businessman Vijay Mallya. The apex court earlier on February 27 adjourned the hearing in the case till March 3. On January 11, the apex court granted three weeks time to Mallya to file a reply to the consortium of banks who sought deposit of the amount of 40 million dollars. The banks, in their plea, told the court that there was an outstanding loan of almost Rs 9,000 crore against the businessman.

Source: dna March 03, 2017 02:11 UTC