The London High Court has allowed a petition filed by SBI-led Indian banks to amend their bankruptcy petition. The court rejected Mallya’s lawyers’ contention that the banks had no right over the assets pledged for loans in the public interest. The court adjourned the case till July 26.
With this, the efforts of the banks to recover the Rs 14,000 crore due from Mallya are expected to be fulfilled soon. The loans were given by banks for Kingfisher Airlines, which is managed by Mallya.