Karnataka HC issues notice to liquor baron Vijay Mallya

Karnataka High Court has issued notice to liquor baron Vijay Mallya and others on a petition filed by bankers, including SBI, seeking his arrest and impounding of his passport for defaulting on loans. The notice, issued by Justice AS Bopanna came even as the Debt Recovery Tribunal (DRT) reserved its order on an application by SBI, seeking securement of the lenders' first right on the payout from Diageo to Mallya. Thirteen bankers, including SBI approached the high court seeking arrest of Mallya



after they moved the DRT to take up their pleas on a priority basis.

DRT on priority basis, took up the application for securing a first right on the 75 million US Dollars severance package that Mallya will be getting for quitting Diageo-owned United Spirits (USL) as its chairman last week under a sweetheart deal.