Vijay Mallya tells Karnataka High Court banks have recovered more than what he owes them

Fugitive businessman Vijay Mallya has moved the Karnataka High Court challenging the debt recovery proceedings against the now defunct Kingfisher Airlines..Mallya has claimed that while Kingfisher Airlines owed around ₹6,200 crore in debt, the authorities had recovered the "principal debt amount multiple times over.".Filed on February 3 this year, Mallya's petition was heard briefly by Justice R Devdas on Wednesday.Senior Advocate Sajan Poovayya, who appeared for Mallya, told the Court that he was not pressing for any interim relief before the respondents were heard.The Court accordingly issued notices to the ten banks, one recovery official, and an asset reconstruction company that were made parties in the plea by Mallya..Mallya moved the High Court earlier this week against several nationalised and private sector banks including the State Bank of India, Punjab National Bank and an asset reconstruction company, challenging their recovery process.In his petition, Mallya urged the Court to grant an interim stay on any further recovery action by the respondents and to direct them to provide a statement of accounts for all amounts owed by him, United Breweries Holdings, and his other debtors..In December last year, Mallya had claimed in a social media post that the banks had recovered over twice the ₹ 6,203 crore debt adjudicated by the Debt Recovery Tribunal, including interest.He also claimed that Union Finance Minister Nirmala Sitharaman had recently said in the Lok Sabha that ₹14,131.6 crore worth properties belonging to Mallya had been restored to public sector banks.Mallya, who fled to the UK in 2016, is wanted in India over a default of thousands of crores loaned to the erstwhile Kingfisher Airlines by several banks.