Nation At 9: 'King of Loans' in trouble

| Friday, March 4, 2016 - 23:17
First Published |
Nation At 9: 'King of Loans' in trouble

Once India's most successful liquor baron and now a 7,000 crore loan defaulter, Vijay Mallya, the original ‘king of good times’ is facing some really tough questions.
His biggest loaner the State Bank of India has finally woken up and dragged him to a debt recovery tribunal and asked him to pay up. But, forget any repayment, Mallya is playing the Rajya Sabha card, his lawyer claims that as he is an honourable MP, so won't run away.
But according to newspaper reports Mallya could soon exit the country as part of an alleged sweetheart deal. It isn't as if Mallya has no money to repay the loan. Sample this — Mallya owns an island called Monte Carlo worth 750 crores, a 12,000 hectare property in Johannesburg, tourism sites in Himalayas, castles in Scotland, houses in London and property in Manhattan, so, the big question is — who is giving Mallya such a long rope?

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