AIBEA wants Mallya’s passport impounded

All India Bank Employees Association (AIBEA) on Tuesday called upon all its Union and members across the country to send telegrams to Union Finance Minister Arun Jaitley demanding impounding of passport of businessman and Kingfisher Airlines Chairman Vijay Mallya and recovery of Rs 7,000 crore of bank loans before allowing him to leave the country. 

AIBEA General Secretary Ch Venkatachalam told UNI here today that the NPAs have increased alarmingly and Reserve Bank of India, Government, Supreme Court and CBI were talking about it nowadays.    He said more than 15 banks have lent money to Mr Mallya and he is deliberately defaulting the loan. ‘‘It is clear case of wilful default and still for years, banks were reluctant to declare him as such,’’ he said, adding that ‘‘only in the recent period, some banks are trying in this direction.’’ 

Mr Venkatachalam said that in the meantime, reports have emanated in the media that Mr Mallya has resigned from UB Group and has decided to receive compensation of $ 75-million payout from Diageo and settle down in London with his family. He said, ‘‘We demanded that Mallya’s passport should be impounded and he should not be allowed to leave India without repaying the loans.  

‘‘After sleeping for years together, now some of the Banks are also moving to court to attach the compensation amount he would receive from UK based Diageo Plc,’’ the AIBEA General Secretary remarked.