Offered Rs 14K cr to banks as settlement: Vijay Mallya’s UB tells SC

News Network
September 30, 2020

mallya.jpg

New Delhi, Sep 30 : Fugitive liquor baron Vijay Mallya’s United Breweries (Holding) Ltd on Wednesday told the Supreme Court that it had offered over Rs 14,000 crore to various banks to settle its dues and that the company’s assets exceeded its total debt.

Senior advocate C.S. Vaidyanathan, appearing for United Breweries, submitted before a bench comprising Justices U.U. Lalit, Vineet Saran and S. Ravindra Bhat that the response of the banks had been received.

He contended that since the company’s assets exceeded the total debt, it was not the case wherein the company should be directed to wind up.

He insisted that the Enforcement Directorate (ED) had attached many assets of the company, as a result of which none was available to the banks.

“The total amount offered is over Rs 14,000 crore whereas the total due amount is Rs 6,203 crore plus interest. But the allocation has been only Rs 430 crore,” Vaidyanathan contended.

He added that not a single attached property had been actually attached by the ED since 2009.

Vaidyanathan said that the petitioner was the guarantor though the loans were taken by Kingfisher and others.

The submissions were made during hearing of United Breweries’ plea to challenge the Karnataka High Court order to uphold the winding-up of the company.

The counsel submitted that not a single asset had been acquired since 2009 when bank loans were allegedly siphoned off overseas. In response, Justice Lalit queried: “Has the attachment order been challenged?”

The counsel said that an appeal was filed in the Prevention of Money Laundering Act Tribunal, adding that they were told that the attachment order was for satisfying debts and the bulk of assets were in the form of shares.

He argued that the PMLA probe revealed that a major part of the total money sanctioned by the IDBI Bank was remitted outside India, and used for payments for aircraft and spare parts.

The investigation concluded that IDBI loans were not backed by marketable commodities, while orders for provisional attachment were passed on the ground of involvement in money-laundering, Vaidyanathan said.

Senior Advocate Mukul Rohatgi, representing the State Bank of India, submitted that the appeal was devoid of merits.

In the last hearing, the apex court had queried whether a company’s attached assets could be considered for liquidation for the settlement of debt. The bench will hear the matter on Thursday.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
November 26,2025

Mangaluru, Nov 26: Mangaluru East police have registered a case following a sophisticated online fraud where a 57-year-old local resident was allegedly cheated out of ₹13.4 lakh after being targeted on Facebook.

The scam began in February when the complainant, while browsing Facebook reels, was contacted by a woman identifying herself as "Lillian Mary George" from London. After establishing a chat relationship, the woman claimed she would visit India in November and bring a significant sum of money.

The trap was sprung on November 15, when the victim received a call from a woman named "Sonali Gupta," who claimed Lillian had arrived at Mumbai International Airport but was detained by customs. The fraudsters convinced the man that Lillian was carrying £25,000 (about ₹26 lakh) in traveller’s cheques and 1 kg of gold (valued at around ₹30 lakh).

Under the pretense of clearing these items, the victim was asked to make numerous online transfers between November 15 and 18 for various bogus charges, including:

•    "Pounds exchange registration"
•    "Customs declaration issues"
•    "Discount charges"
•    "Money-laundering charges"

Believing the fictitious story, the complainant transferred the cumulative sum of ₹13.4 lakh to various bank accounts provided by the fraudsters. He realised he was cheated when the culprits later promised a refund within two days but stopped answering his calls. The Mangaluru East police are now investigating the case, which highlights the continuing threat of transnational cyber fraud using social engineering and promises of fictitious wealth.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
November 30,2025

The United Nations Committee against Torture (CAT) has condemned the Israeli regime for enforcing a policy of “organized torture” against Palestinians.

In a report published on Friday, CAT stated that the occupying regime enforces a deliberate policy of “organized and widespread torture and ill-treatment” against Palestinian abductees, particularly since October 7, 2023, when Israel launched its genocidal war on Gaza.

The committee expressed “deep concern over repeated severe beatings, dog attacks, electrocution, water-boarding, use of prolonged stress positions [and] sexual violence” inflicted on Palestinians.

Palestinian prisoners were degraded by “being made to act like animals or being urinated on,” systematically denied medical care, and subjected to excessive restraints, “in some cases resulting in amputation,” the report added.

CAT also condemned the routine application of “unlawful combatants law” to justify the prolonged detention without trial of thousands of Palestinian men, women, and children.

More than 10,000 Palestinians, including women and children, are currently held in Israeli prisons, according to Palestinian and international human rights groups, with 3,474 Palestinians in “administrative detention,” meaning they are imprisoned without trial for indefinite periods.

The report highlighted the “high proportion of children who are currently detained without charge or on remand,” noting that while Israel sets the age of criminal responsibility at 12, even younger children have been abducted.

Children designated as security prisoners face severe restrictions on family contact, may be subjected to solitary confinement, and are denied access to education, in clear violation of international law.

The committee further suggested that Israel’s policies across the Occupied Territories constitute collective torture against the Palestinian population.

“A range of policies adopted by Israel in the course of its continued unlawful presence in the Occupied Palestinian Territory amounts to cruel, inhuman or degrading living conditions for the Palestinian population,” the report said.

On Thursday, the Palestinian resistance movement Hamas condemned the systematic killing and torture of Palestinian abductees in Israeli prisons, urging international action to halt these abuses.

Citing human rights data, Hamas stated that 94 Palestinians have been killed in Israeli prisons since the start of Tel Aviv’s genocidal war on Gaza.

“This reflects an organized criminal approach that has turned these prisons into direct killing grounds to eliminate our people,” the resistance movement said.

Hamas called on the international community, the UN, and human rights organizations to immediately pressure Israel to end crimes against prisoners and uphold their rights as guaranteed by all international conventions and norms.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 2,2025

Mangaluru, Dec 2: Mangaluru International Airport responded to a medical emergency late on Monday night. Air India Express flight IX 522, travelling from Riyadh to Thiruvananthapuram, was diverted to Mangaluru Airport after a passenger in his late 30s experienced a medical emergency on board.

The Airport’s Operations Control Centre received an alert regarding the passenger’s health condition. The airport activated its emergency response protocol, mobilising the airport medical team and coordinating with stakeholders including CISF, immigration, and customs. 

Upon landing, airport medical personnel attended to the passenger, assessed his condition, and arranged to shift him to a local tertiary-care hospital for further treatment. The passenger’s relatives accompanied the passenger, who incidentally received necessary medical care on board, which helped stabilise the situation.

Following the handling of the emergency, the flight departed for Thiruvananthapuram at 2:05 am on Tuesday.

"We appreciate the cooperation of all parties involved, and this incident reaffirms our ongoing commitment to prioritising passenger safety and readiness to respond to unforeseen emergencies with professionalism and care," the Airport spokesperson said. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.