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Banks should have acted earlier to stop Mallya: FM

Finance Minister Arun Jaitley on Thursday said banks should have acted earlier to stop Vijay Mallya from going abroad, even as he warned of “appropriate action” against those responsible for any “inaction” in recovery of dues totalling over Rs 9,000 crore in the case.

Liquor baron Mallya, who is facing legal proceedings for alleged loan defaults by his group, left the country on March 2, even as banks have approached the courts to seek orders restraining him from going abroad. Opposition leaders have raised questions about how he was allowed to leave the country despite a ‘lookout’ notice by CBI.

“Let the bankers take all steps to recover their money.

If somebody is responsible of inaction… or any other matter of this kind coming to our notice, we will certainly look into that and take appropriate action,” Jaitley told reporters here.

He was responding to a query with regard to the Congress vice-president Rahul Gandhi’s charges that the government took no action to stop Mallya from moving out of the country.

Jaitley said, “There is a legal process to stop somebody (from going abroad). Either your passport is impounded or there is an order of a court. Otherwise, nobody can stop you.

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NMTV was launched in the year 1999, and is Maharashtra only accredited 24-hour, 7-day-a-week local cable news station of Navi Mumbai airing news bulletins and programs in English, Hindi and Marathi. NMTV represents the state-of-the-art in local television news coverage, delivering on a commitment of responsible and community-oriented journalism on an around-the-clock basis.

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