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‘Mallya has enough assets to sell for repaying loans’

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Bengaluru, June 26 (IANS) Fugitive Vijay Mallya has enough assets to sell and replay loans he raised from banks to fund his now defunct Kingfisher Airlines, an official said on Tuesday.

“The value of Mallya’s assets seized by the authorities concerned is estimated to be nearly Rs 13,960 crore, while he owes about Rs 9,500 crore to a consortium of banks,” a law enforcing agency official told IANS here.

On a petition in February 2016 by the consortium of 17 banks for recovery of their dues from the airline, the Debt Recovery Tribunal recovered and transferred to the Enforcement Directorate (ED) assets valued at Rs 7,529 crore.

In a petition to the Karnataka High Court on June 22, Mallya offered to sell under judicial supervision his fixed assets and shares valued at Rs 8,423 crore to repay the outstanding dues to creditors, including banks.

“As most of fixed assets valued at Rs 1,700 crore and shares (pledged/unpledged) worth Rs 4,978 crore, totalling Rs 6,678 crore) have been seized and attached, the ED has to release them for sale,” said the official, preferring anonymity.

The Tribunal has so far recovered Rs 198 crore in fixed deposits and balance amount in the bank accounts of the defaulters (Mallya and United Breweries Holdings Ltd) and Rs 73 crore from the sale of the sprawling Kingfisher Villa at Candolim in Goa in April 2017.

As stated by Mallya in a statement to the media earlier, he had deposited Rs 1,280 crore with the high court on its direction in 2013.

In addition, Mallya is ready to sell other assets worth Rs 2,650 crore.

Mallya’s six other entities are also willing to sell shares worth Rs 2,888 crore, held in the group companies such as United Spirits Ltd, United Breweries Ltd and McDowell Holdings Limited.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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