SC verdict in Mallya case will enhance recovery prospects: Bankers

The Supreme Court verdict in a contempt petition involving industrialist Vijay Mallya will enhance the prospects of recoveries, which are already in progress in the Kingfisher Airlines account, bankers said.
 
Beyond the case, the decision also has demonstrative effect for sternly dealing with other big-ticket defaults, two senior officials with large banks said in a first-cut assessment.
 
The Supreme Court on Monday sentenced fugitive businessman Vijay Mallya to four months in jail and fined him Rs 2,000 for a 2017 contempt of court case over transferring $40 million to his children in violation of court orders.

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