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Vijay Mallya In Tweet Terms ED Incredible As It Attaches Rs 14,000 Cr Against Rs 6,200 Cr Debt

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After a UK court declared Vijay Mallya as bankrupt allowing banks to pursue his assets worldwide, Mallya in a tweet has said the Enforcement Directorate is attaching his assets worth Rs 14,000 crores against debt of Rs 6,200 crores.

He also levelled allegation that the banks are making him bankrupt since they have to return money to the ED.

“ED attach my assets worth 14K crores at behest of Govt Banks against debt of 6.2K crores. They restore assets to Banks who recover 9K crores in cash and retain security over 5K crores more. Banks ask Court to make me Bankrupt as they may have to return money to the ED. Incredible,” Mallya said in a tweet

Earlier, The Companies and Insolvency Court of UK passed the ruling, according to a statement of the UK High Court press office.

The Companies Court (now part of the Insolvency and Companies List) is a specialist court within the Chancery Division of the High Court of Justice of England and Wales, which deals with certain matters relating to companies.

Mallya has been denied any right to appeal against the bankruptcy decision. The decision was announced at an oral hearing .

Mallya, the owner of the now-defunct Kingfisher Airlines, owes more than Rs 9,000 crore to a consortium of banks in principal and interest.

The petitioners were State Bank of India (SBI)-led consortium of 13 Indian banks, including Bank of Baroda, Corporation Bank, Federal Bank Ltd, IDBI Bank, Indian Overseas Bank, Jammu & Kashmir Bank, Punjab & Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, United Bank of India and JM Financial Asset Reconstruction Co Pvt Ltd.

The ruling is being seen as a major victory for the consortium of Indian banks pursuing debts owed by the now-defunct Kingfisher Airlines.

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