Technoglitch
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Liquor baron Vijay Mallya can't access the 75 million dollars or Rs. 515 crore he will receive as part of his settlement with the world's largest liquor company Diageo.
The Debt Recovery Tribunal today said he can't touch the money for now.
The State Bank of India, which heads a consortium of 17 lenders to Mr Mallya's grounded Kingfisher Airlines, had moved the tribunal based in Bengaluru.
The country's largest bank had asked for the severance package that Mr Mallya will get for quitting Diageo-owned United Spirits as its chairman.
As part of the deal announced last month, Diageo said it would pay $40 million immediately to Mr Mallya and the rest in instalments over five years.
Vijay Mallya Barred From Accessing Rs 515 Crore Severance Pay By Debt Recovery Tribunal
The Debt Recovery Tribunal today said he can't touch the money for now.
The State Bank of India, which heads a consortium of 17 lenders to Mr Mallya's grounded Kingfisher Airlines, had moved the tribunal based in Bengaluru.
The country's largest bank had asked for the severance package that Mr Mallya will get for quitting Diageo-owned United Spirits as its chairman.
As part of the deal announced last month, Diageo said it would pay $40 million immediately to Mr Mallya and the rest in instalments over five years.
Vijay Mallya Barred From Accessing Rs 515 Crore Severance Pay By Debt Recovery Tribunal
