Vijay Mallya plans to sell properties to repay loans

Bengaluru: Vijay Mallya sought the High Court to give him permission to sell his assets under judicial supervision and repay creditors, including state-run banks.

“UBHL (United Breweries Holding Ltd) has filed an application before the High Court on June 22, setting out available assets of about Rs 13,900 crore,” said Mallya in a letter released here today.

Mallya also said that he had written letters to both the Prime Minister and the Finance Minister on April 15, 2016 to explain his side of the story. “No response was received from either of them,” he said in a statement.

Mallya added, “I have become the ‘Poster Boy’ of Bank default and a lightning rod of public anger”.