Mallya case: Tribunal advises banks to coordinate recovery of Rs 2,000 cr

The Debt Recovery Tribunal on Tuesday advised SBI-led consortium of banks in Vijay Mallya case to make coordinated efforts among themselves to recover around Rs 2,000 crore parked in courts in the country and reduce losses to the tune of over Rs 9,000 core incurred by the banks.

DRT presiding officer Benakanahalli’s suggestion came as the consortium of banks and Diageo (Holdings) Netherlands pleaded before the Tribunal to take up their respective interlocutory applications for hearing on a priority basis. Benakanahalli said banks should sit and sort out the issue.

“I suggest consortium of banks led by SBI to make a coordinated effort to recover around Rs 2000 crore parked in various courts and reduce the losses to the tune of over Rs 9000 crore incurred by banks,” Benakanahalli said.