Vijay Mallya loan default: Banks recover just Rs 155 cr of Rs 8,191 cr outstanding so far

New Delhi: Public sector banks have been able to recover only a fraction of the more than Rs 8,000 crore loan outstanding against embattled businessman Vijay Mallya, Parliament was informed today.

File image of Vijay Mallya. Agencies

File image of Vijay Mallya. Agencies

Banks had reported Rs 8,191 crore as loan outstanding against Mallya as on 31 December, 2016, Minister of State for Finance Santosh Kumar Gangwar said in a written reply in the Rajya Sabha.

"As reported by PSBs, amount of Rs 155 crore has been recovered by conducting online mega auction by selling from seized properties from defaulting loan borrower Vijay Mallya," Gangwar said.

He was responding to a question about outstanding loan dues against Mallya and recovery actions being taken. Banks take all efforts including sale of assets to recover their dues, the minister said.

The loan resolution and recovery is guided by RBI and banks' board approved policy, Gangwar added.

Mallya is currently living in the UK, evading arrest in cases related to loan defaults in India. Various agencies have issued summons to him.

Following requests from the Finance Ministry, the Ministry of External Affairs has also revoked his passport.


Updated Date: Mar 21, 2017 17:30 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See