The heavily indebted Indian liquor baron Vijay Mallya has fled the country, the Supreme Court heard on Wednesday, as banks lined up to try to recover more than $1 billion in unpaid loans. A group of mainly state-run banks had asked the Supreme Court to prevent the flamboyant businessman, who is known for his extravagant lifestyle, from quitting India.
But the attorney general said the 60-year-old had left on March 2 after stepping down as chairman of United Spirits, the Indian arm of Britain's Diageo, following allegations of financial lapses. "Agencies and the CBI (Central Bureau of Investigation) have told me he left the country on the second of March," said Mukul Rohatgi, representing the banks in court.
"Please ask Mr Mallya to come back and appear in the Supreme Court and disclose all his assets." Rohatgi said the state was not looking to take action against Mallya, who is thought to be in London, but wanted him to settle debts worth more than $1.3 billion. The court said it would issue a notice seeking a response from the businessman on the repayment of the loans. Repeated calls by AFP to Mallya's mobile and those of his representatives went unanswered on Wednesday. He announced last month he planned to move to Britain to be closer to his children.