Vijay Mallya offers to curtail 'lavish' lifestyle

Agencies
April 5, 2019

London, Apr 5: Embattled liquor tycoon Vijay Mallya is willing to curtail his "lavish" lifestyle to satisfy numerous Indian banks trying to recoup some of the nearly 1.145 billion pounds owed to them, a UK court was told.

The 63-year-old had been sanctioned an "ordinary living expenses allowance" of a maximum of 18,325.31 pounds a week, which he offered to cut down to around 29,500 pounds a month during a UK High Court hearing this week.

However, a consortium of 13 Indian banks led by the State Bank of India (SBI) did not agree to his offer as they seek access to nearly 260,000 pounds in an ICICI Bank current account in his name in London.

DWF Law LLP, representing Mallya in his legal fight against the banks, said the former Kingfisher Airlines' boss intends to stay within any court-ordered spending limits.

"Dr Mallya continues to do all he can to support a court process in India, which should see creditors paid off in full," Jonathan Isaacs, partner at DWF Law LLP, said in a statement to news agency.

"It is unfortunate that he has to fight UK enforcement at the same time but no one creditor should be allowed to break rank and grab assets at the expense of all other creditors. Dr Mallya meanwhile lives well within the court-ordered limits and looks forward to all matters concluding in the coming months," he said.

At a hearing before Master David Cook at the Queen’s Bench Division of the UK High Court on Wednesday, lawyers representing SBI and 12 other Indian banks had highlighted that Mallya continues to live a "lavish lifestyle" despite owing them millions in debt.

The hearing centred around an "interim third-party debt order" obtained by the banks in January relating to funds worth just short of 260,000 pounds in Mallya's current account with ICICI Bank in London, according to TLT LLP, the law firm representing the Indian banks.

It forms part of the banks’ ongoing efforts to enforce the Indian Debt Recovery Tribunal (DRT) judgment against Mallya in the UK. The former Kingfisher Airlines and Force India chief is opposing the application and seeking a discharge of the interim order. A judgment in the case is expected in the coming weeks. If the judge makes the interim order final, the funds held in the ICICI London account will have to be released to the banks.

The case is part of wider efforts by SBI and 12 other Indian banks – 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 – to recover some of the funds owed to them as a result of unpaid loans by Mallya's now-defunct Kingfisher Airlines.

In a ruling in May last year, a UK High Court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.

TLT LLP has been representing the banks in their efforts to recover their dues as part of the worldwide freezing order, including a bankruptcy petition aimed at seizing his assets to recover dues filed at the end of last year.

Mallya, meanwhile, remains on bail after his extradition was ordered by Westminster Magistrates’ Court in London in December last and signed off by UK home secretary Sajid Javid in February. He has since filed an application in the UK High Court seeking leave to appeal against that order.

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News Network
March 27,2020

Srinagar, Mar 27: Over 180 people with undeclared recent travel histories have been traced and shifted into quarantine in Srinagar, officials said.
"COVID-19: Over 180 persons with undeclared recent travel histories have been traced and shifted into quarantine this past week in Srinagar. Some 200 more complaints are being verified. Just hoping no one is infected as it's just too hard to even imagine the possible consequences." Srinagar district administration tweeted.
The Ministry of Health and Family Welfare had earlier on Thursday reported 88 new COVID-19 cases, which is the highest in a single day, taking the total countrywide tally to 694.

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News Network
April 30,2020

Hyderabad, Apr 30: A 45-day-old baby boy, who tested positive for COVID-19 when he was 20-days-old, was discharged from a state-run hospital here on Wednesday after his full recovery.

The baby from Mahabubnagar, who contracted the infection from his father, was 20-days-old at the time of admission (on April 4), a COVID-19 bulletin said.

He was discharged after being cured, it said. The baby, probably the youngest to contract the infection in the country, was treated at the state-run Gandhi hospital in the city.

State Health Minister E Rajender expressed happiness over the baby being discharged after recovery.

An official release said 35 people were discharged today and 13 of them were children.

Those who were discharged thanked the doctors and medical personnel of the hospital and the minister has lauded the doctors and other medical staff for their efforts, it said.

Among those undergoing treatment at the hospital, 10 are being treated in the ICU.

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News Network
April 9,2020

New Delhi, Apr 9: Kerala opposition coalition United Democratic Front on Thursday submitted a roadmap to Prime Minister Narendra Modi for staggered lifting of ongoing lockdown due to COVID-19 pandemic.

The coalition led by leader of opposition Ramesh Chennithala has given a set of recommendations to Modi in this regard, which include those made by an expert committee headed by deputy leader of opposition M K Muneer.

The committee was set up to suggest measures to be taken by the government for smooth transition from lockdown to normalcy.

It listed an eight-point exit strategy for removing lockdown in a staggered approach at a district level, with emphasis on hotspots to avoid further spread of virus and ensure smooth restart of economy.

This approach is tuned to the unique needs of each district and all the districts should also be categorised as per their risk levels, the report said.

The report has also been submitted to chief ministers of all states, former prime minister Manmohan Singh, Congress president Sonia Gandhi, senior Congress leader Rahul Gandhi among others.

The committee recommended that COVID-19 rapid testing must be enhanced across the country and the testing target be widened to 500 tests per one lakh population.

"A step-by-step approach is necessary for each sector along with conditions that need to be considered for each sector," the report said.

"There is a need for a comprehensive economic stimulus package in addition to the ones already announced after considering all the industries," it added.

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