STARTUP LEGAL3 Oct 2026
SBI-led consortium tells Bombay HC Mallya owes over ₹8,700 crore; counters his claim of recovering more than dues | Company Business News
A banks' group led by State Bank of India (SBI) told the Bombay High Court that Vijay Mallya still owes about ₹8,752 crore, even after ₹10,270 crore was recovered. That challenges his claim that his dues are fully paid. The matter is listed next on 13 October. Lenders and borrowers should keep recovery records and outstanding dues updated.
Key Statutory Highlights
- A consortium of banks led by SBI told the Bombay High Court that about ₹8,751.86 crore remained recoverable from Vijay Mallya as of 31 August.
- The banks said ₹10,270 crore has been recovered so far, plus ₹544.58 crore recovered before the lawsuit was filed before the Debt Recovery Tribunal.
- The Enforcement Directorate has said Mallya's assets worth nearly ₹14,132 crore were returned to SBI, but added that this only settles civil claims and cannot cancel criminal proceedings under the Prevention of Money Laundering Act.
Actionable Advice for Taxpayers / Founders:If you have a stressed loan or a pending recovery matter, keep your loan statements, recovery certificates and payment proofs handy, and check the exact outstanding dues with your bank before assuming the account is fully settled.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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