SBI-led consortium tells Bombay HC Mallya owes over ₹8,700 crore; counters his claim of recovering more than dues

A consortium of banks led by State Bank of India (SBI) recently informed the Bombay High Court (HC) that, as of 31 August, fugitive businessman Vijay Mallya owes lenders roughly ₹8,752 crore.According to a report by The Economic Times, fugitive businessman Vijay Mallya, founder of the now-defunct Kingfisher Airlines and former chairman of United Breweries Group, has settled dues amounting to ₹10,270 crore. The lenders’ statement contradicts Mallya’s claim that the banks had already recovered more than the amount owed…