Very happy with UK enforcement order against Mallya, says SBI MD

New Delhi, Jul 6: Reacting to UK High Court’s decision against fugitive liquor baron Vijay Mallya, State Bank of India (SBI) managing director (MD) Arijit Basu has said that the country’s biggest lender is ‘very happy’.
“(We are) very happy with UK enforcement order against Mallya, hope to recover our money,” said Basu.
“We have recovered Rs 963 crore from auction of Mallya’s Indian assets,” Basu, who became the MD of SBI earlier this week, added.
The reaction comes following the UK High Court’s ruling in favour of a consortium of 13 Indian banks which granted permission to enforcement officers to enter the estate of Mallya to seize his possessions.
SBI is the leader of consortium of 13 banks that lent money to Mallya’s now defunct Kingfisher Airlines.
The former liquor baron has been staying with his friend Pinky Lalwani at the estate located in quintessentially English upper-class village of Tewin after fleeing India.
The order comes after Mallya lost a case in the high court against the registration of the Bengaluru Debt Recovery Tribunal (DRT) judgement in UK courts. The DRT ruled that Mallya owes the consortium Rs 6,203 crore plus interest amounting to Rs 9,863 crore.