I Have No Money To Refund Rs 9000 Crore Loan: Vijay Mallya Tells Supreme Court

The liquor baron Vijay Mallya on Thursday told the Supreme Court that he had no money to refund Rs 9000 crore loan as all his assets have been attached by the government authority.
The apex court was hearing the loan default case of Mallya on Thursday. The State Bank of India (SBI)-led consortium of banks have filed a plea seeking recovery of the loan amount worth to the tune of Rs 9,000 crores approximately given to the businessman.
In the last hearing on March 3, the banks conveyed to the apex court that Mallya did not deliberately disclose receipt of 40 million US dollars from a British company in the form of sale proceedings, as he had transferred the amount to trusts set up for his three children.