Loans to Vijay Mallya given by UPA: Govt.

TIL Desk/Business/New Delhi-Loans to the tune of Rs 8,040 crore was given to liquor baron Vijay Mallya when the previous UPA government was in power, but action against him for defaults is being taken by the Modi government, a minister said on Friday. Till December 31, 2016, there were 9,130 willful defaulters in the country who had taken loans amounting Rs 91,155 crore from various PSU banks, Minister of State for Finance Santosh Gangwar said in Lok Sabha.

Replying a supplementary about action against Mallya, Gangwar, without taking his name, said the person whose name was mentioned was given loan in September 2004 and it was reviewed in February 2008. The loan of Rs 8,040 crore was declared non-performing assets in 2009 and the NPA was restructured in 2010.

“Our government has taken action against him. He is currently living in the UK. Various agencies have issued summons to him. Following our requests, the Ministry of External Affairs has revoked his passport and we are taking action so that he faces justice,” he said during Question Hour.