Bengaluru, June 3: The Debt Recovery Tribul will pronounce on June 7 its orders on 26 interlocutory applications (IAs) filed by the SBI and other defendants in the Rs 9,091 crore debt recovery case against tycoon Vijaya Mallya, his UB group firms and the now-defunct Kingfisher Airlines. “I will give my ruling on June 7 on the IAs filed by main petitioner SBI (State Bank of India) and other defendants for relief in the debt recovery case against Mallya and his group firms,” tribul’s presiding officer Justice C.R. Bekahalli said here on Friday after counsel from both sides resumed arguments. The judge directed the counsels to mutually decide and inform him whose IAs should be heard first before taking up the origil application the SBI filed in June 2013 as a lead bank of a consortium of 17 state-run and private banks to recover the outstanding loans with compound interest.
During the hearing, the SBI counsel objected to United Breweries (Holdings) Ltd. plea for more time to submit fresh evidence, as the deadline for it ended on Thursday as decided by the presiding officer. The counsel for leading British liquor major Diageo Holdings Netherlands sought discharge from the proceedings as it was not a party to the origil application, moved by the SBI before the tribul. “As I have to conclude arguments and dispose of the case before July 9 as per the Supreme Court directive, I will set a timeline for hearing and disposing of the IAs on priority basis,” Benkahalli told the counsels. (IANS)