The Enforcement Directorate told a special Mumbai court today that it had no objection to the restoration of fugitive businessman Vijay Mallya’s properties to a consortium of banks.
The agency submitted its affidavit in response to an application filed by the consortium of banks, led by the State Bank of India (SBI), seeking restoration of properties of Mallya, who is accused of defaulting on loans worth over 9,000 crore rupees. According to the consortium, the amount claimed by the banks was around 6,200 crore rupees.
The agency further said that since all the applicants, except one, were public banks, the money sought to be recovered was public money, restoration of assets in their favour was in public interest.
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