The Karnataka High Court on Friday listed for hearing in September the petitions filed by fugitive businessman Vijay Mallya and Daljit Mahal, director of the now-liquidated United Breweries Holdings Limited (UBHL), seeking detailed bank account statements on recoveries made against their debts.
The petitioners have requested directions to concerned banks to furnish comprehensive statements reflecting dues owed by them, UBHL, and other certificate debtors. They also want the statements to account for periodic interest accruals, credits for recoveries already made, and details of assets utilised in satisfaction of debts, pursuant to an amended recovery certificate issued by the Debts Recovery Tribunal (DRT) on April 10, 2017.
Justice B.M. Shyam Prasad observed that the present plea and another matter (WP 3357/2025) involved similar issues. Senior Advocate Sajan Poovayya, representing the petitioners, suggested that both matters be taken up together. The court directed advocate Chandrakant K. Patil, who already represents respondents in the connected case, to accept notice on behalf of multiple respondents in the present matter as well. The petitions will now be heard on September 15.
Appearing for Mallya and Mahal, Poovayya argued that winding-up orders against Kingfisher Airlines and UBHL had attained finality, having been upheld by the Supreme Court. He maintained that substantial recoveries had already been effected from Mallya and his companies.
According to him, the DRT had originally directed payment of ₹6,200 crore by Kingfisher Airlines as the principal debtor, with UBHL standing as guarantor. However, banks have since recovered amounts far exceeding this figure.
“Since 2017, banks have realised around ₹10,200 crore, and even the official liquidator has acknowledged that banks have been restored. The Finance Minister has also informed Parliament that recoveries have touched ₹14,000 crore,” Poovayya submitted.
The petitioners have urged the High Court to direct banks to issue comprehensive statements of recoveries made, specifying the ownership of assets liquidated for repayment. They have also sought disclosure of assets belonging to them, UBHL, or third parties that remain with banks but have not yet been appropriated.
As interim relief, the plea has requested a stay on further recovery proceedings, including fresh asset sales pursuant to the 2017 DRT recovery certificate.
The matter is scheduled to come up for detailed hearing on September 15.
