Latest news with #SBI-led
News18
3 days ago
- Business
- News18
'A Punching Bag?': Harsh Goenka's 'Justice' Post Gets Vijay Mallya's Thumbs-Up
Last Updated: Goenka questioned why Mallya was still a "punching bag" despite his loan recovery and said justice must be fair. Mallya is accused of defaulting on loans worth Rs 9,000 crore. Business tycoon Harsh Goenka's recent social media post, where he questioned why fugitive businessman Vijay Mallya continues to be a 'political punching bag" despite the recovery of his loans, has reignited the debate surrounding one of India's most high-profile financial scandals. The RPG Enterprises Chairman acknowledged that Mallya had 'lived the high life" and defaulted on his loans, but stressed that his dues worth over Rs 9,000 crore had been settled. He emphasised that justice must be fair and not selective. 'Vijay Mallya lived the high life, yes. Defaulted, yes. Unlike most others, his ₹9,000+ crore dues are now reportedly settled. Meanwhile, bigger defaulters walk free with much fatter haircuts from banks. If dues remain, the banks should clearly say so. If not, why is he still a political punching bag? Justice must be fair, not selective," Goenka said on X. Vijay Mallya lived the high life, yes. Defaulted, yes. Unlike most others, his ₹9,000+ crore dues are now reportedly settled. Meanwhile, bigger defaulters walk free with much fatter haircuts from banks. If dues remain, the banks should clearly say so. If not, why is he still a…— Harsh Goenka (@hvgoenka) June 5, 2025 Mallya swiftly responded to Goenka's post, saying, 'Thank you Harsh. The Union Finance Ministry has confirmed in writing that Banks have recovered Rs 14,100 crores from me against a DRT judgement debt of Rs 6,203 crores. Why the blatant discrimination?" Thank you Harsh. The Union Finance Ministry has confirmed in writing that Banks have recovered Rs 14,100 crores from me against a DRT judgement debt of Rs 6,203 crores. Why the blatant discrimination ?— Vijay Mallya (@TheVijayMallya) June 5, 2025 'Vijay Mallya didn't repay out of goodwill. His assets were seized and auctioned after years of dodging Indian courts and living lavishly in the UK," another user said. Others agreed with Goenka's statement, saying Mallya had been unfairly targeted. Mallya is an accused in a bank loan default case of over Rs 9,000 crore from an SBI-led consortium, involving his defunct Kingfisher Airlines. He was accused of fraud and money laundering and fled the country in 2016. He has since lived in the UK while fighting his extradition to India. Last year, the Enforcement Directorate said it had recovered Rs 22,280 crores from various banking scams, from the high-profile names like Mehul Choksi, Nirav Modi and Vijay Mallya and some fraudulent companies. In February, Mallya told the Karnataka High Court that the Rs 6,200 crore debt he owes to banks has been recovered 'multiple times over". 'According to an admitted statement, as of today, the recovery officer confirms that Rs 10,200 crore has been recovered. Additionally, the official liquidator states that the banks have regained their dues, and even the Finance Minister informed Parliament that Rs 14,000 crore has been recovered," he said at that time. The 69-year-old businessman was declared bankrupt in July 2021. He remains on bail in the UK while a 'confidential" legal matter believed to be related to an asylum application is resolved in connection with the unrelated extradition proceedings. A consortium of banks, led by SBI, won their court appeal in London to uphold a bankruptcy order against him in April.
News18
4 days ago
- Business
- News18
'Come To India, We'll Celebrate Together': SBI's Reply To Vijay Mallya On RCB's Victory Goes Viral
Last Updated: Harsh Goenka shared a purported tweet by SBI, responding to Vijay Mallya's congratulatory tweet over RCB's victory, asking him to come to India to celebrate together. The city of Bengaluru exploded in a wave of loud cheers and fireworks after the Royal Challengers Bengaluru (RCB) earned their maiden IPL title in Ahmedabad on Tuesday, putting an end to their agonising 18-year wait. As Virat Kohli and the rest of the team celebrated and the city rejoiced, fugitive businessman and RCB's former owner, Vijay Mallya, put out a congratulatory tweet for the men in red – which was immediately trolled by netizens. 'RCB are IPL Champions finally after 18 years. Superb campaign right through the 2025 tournament. A well-balanced team Playing Bold with outstanding coaching and support staff. Many congratulations! Ee sala cup named," he said on X. RCB are IPL Champions finally after 18 years. Superb campaign right through the 2025 tournament. A well balanced team Playing Bold with outstanding coaching and support staff. Many congratulations ! Ee sala cup namde !!— Vijay Mallya (@TheVijayMallya) June 3, 2025 The businessman's tweet invited hilarious response from netizens, who asked him to join the celebrations in Bengaluru and make the 'SBI's dream come true". One user wrote, 'Sir, isi khushi mein kal subah ek baar Kirti Nagar wali SBI branch aa jao 5 minute ke liye please (Sir, to celebrate this, please come to the Kirti Nagar SBI branch tomorrow morning for just 5 minutes.) 'Now at least return some money to SBI from the winning amount," another individual said. However, one tweet in particular went viral on social media – the one allegedly by the SBI itself. Businessman Harsh Goenka shared an image of SBI's response to Vijay Mallya's tweet, 'Sir, come to India. We will celebrate together." The reply immediately went viral on social media, with users saying, 'SBI got no chill" and 'Never deleting this app." That's why I like X — Harsh Goenka (@hvgoenka) June 4, 2025 However, the SBI's response was not located on Mallya's tweet. When a user asked Grok about this, it said the SBI reply appeared fabricated and no evidence of such a response existed, which was inconsistent with their communication style. Mallya is an accused in a bank loan default case of over Rs 9,000 crore from an SBI-led consortium, involving his defunct Kingfisher Airlines. In a follow-up post, Mallya reflected on his role in the team's early years and the contributions of Virat Kohli, AB DeVilliers and Chris Gayle. 'When I founded RCB it was my dream that the IPL trophy should come to Bengaluru. I had the privilege of picking the legendary King Kohli as a youngster and it is remarkable that he has stayed with RCB for 18 years." 'Finally, the IPL trophy arrives in Bengaluru. Congratulations and thanks again to all who made my dream come true. RCB fans are the very best and they deserve the IPL trophy. Ee Sala Cup Bengaluru baruthe!," he added. RCB defeated Punjab Kings in a thrilling IPL final in Ahmedabad on Tuesday to clinch its maiden IPL title, adding to the achievements of its senior leader Virat Kohli, who has stuck by the franchise since the inaugural edition in 2008. First Published: June 04, 2025, 23:45 IST
Time of India
30-05-2025
- Business
- Time of India
Takeover of Yes Bank by fgn lender threat to India's banking sovereignty: Cong
Mumbai: Banking expert and senior Congress leader Vishwas Utagi on Friday said the takeover of private lender Yes Bank by a Japanese financial institution—Sumitomo Mitsui Banking Corporation—is a threat to India's banking sovereignty. "Congress demands a judicial probe under the Commission of Inquiry Act into the dubious foreign takeover," said Utagi, veteran trade union leader who recently joined the party. He said Congress has expressed deep concerns and strong opposition to the recent developments surrounding the takeover of Yes Bank from an SBI-led consortium of lenders, which had rescued the beleaguered bank in 2020. Utagi said media reports indicate that the Japan-based organisation has already invested Rs 13,000 crore for a 20% stake in Yes Bank and is now preparing to infuse another Rs 30,000 crore to gain majority control. "Why are RBI and the Indian government allowing a foreign bank to take over Yes Bank? Yes Bank's takeover must be stopped," he said. Yes Bank, India's sixth largest private sector bank, was restructured in 2020 under RBI's supervision following a major liquidity crisis and regulatory issues under its former CEO Rana Kapoor. —Prafulla Marpakwar
