Member of Parliament and businessman Vijay Mallya today informed the Supreme Court that he has submitted a proposal to the State Bank of India for repayment of dues to banks..Senior Advocate CS Vaidyanathan appeared for Mallya and Kingfisher Airlines Ltd., while Senior Advocate Parag Tripathi appeared for United Breweries Ltd..The Bench of Justices Kurian Joseph and Rohinton Fali Nariman recorded the same in its order and granted a week’s time to the consortium of banks to respond to the proposal..When the matter was taken up today, Vaidyanathan told the court that a proposal has been submitted at 10.30 am today..“We have given a proposal today morning. Bank should seriously consider what has been offered.”.The proposal includes payment of Rs.4,000 crore by September and assignment to the banks of certain credits due to Kingfisher..Vaidyanathan also made a request to the Bench that the proposal should not be allowed to reach the media, considering the hype created by certain media houses. Justice Kurian Joseph, however, said that the media stands for public interest and the public has the right to know..The Court then proceeded to grant one week to the banks to respond to the proposal. The matter will now be taken up on April 7.
Member of Parliament and businessman Vijay Mallya today informed the Supreme Court that he has submitted a proposal to the State Bank of India for repayment of dues to banks..Senior Advocate CS Vaidyanathan appeared for Mallya and Kingfisher Airlines Ltd., while Senior Advocate Parag Tripathi appeared for United Breweries Ltd..The Bench of Justices Kurian Joseph and Rohinton Fali Nariman recorded the same in its order and granted a week’s time to the consortium of banks to respond to the proposal..When the matter was taken up today, Vaidyanathan told the court that a proposal has been submitted at 10.30 am today..“We have given a proposal today morning. Bank should seriously consider what has been offered.”.The proposal includes payment of Rs.4,000 crore by September and assignment to the banks of certain credits due to Kingfisher..Vaidyanathan also made a request to the Bench that the proposal should not be allowed to reach the media, considering the hype created by certain media houses. Justice Kurian Joseph, however, said that the media stands for public interest and the public has the right to know..The Court then proceeded to grant one week to the banks to respond to the proposal. The matter will now be taken up on April 7.
