Vijay Mallya has filed a petition in the Karnataka High Court, seeking to stop the ongoing debt recovery proceedings against him and his company, Kingfisher Airlines.
Mallya argues that the 6,200 crore owed by the airline has already been recovered multiple times, including the principal amount, and that further recovery actions are unjustified.
Mallya has requested an interim stay on further recovery actions until a detailed review of the amounts already recovered is conducted. He claims that the total recovery amount has surpassed the original debt, including interest.
The Court, which heard the petition briefly on Wednesday, is expected to issue notices to the banks, recovery officials, and an asset reconstruction company involved in the case. Mallya’s legal team is seeking a thorough examination of the recovery process before any additional actions are taken.
