Standard Chartered denies statement on Mallya


Standard Chartered Bank today said it did not in any way allege, during Debt Recovery Tribunal proceedings here, that there was a collusion of SBI-led consortium of banks with liquor baron Vijay Mallya.

“We wish to clarify that, contrary to the reports published in the media, Standard Chartered did not in any way allege, during Debt Recovery Tribunal proceedings, that there was a collusion of Banks with Mr. Mallya. The reporting in this instance was entirely incorrect,” Ananth Venkat, Managing Director and Regional Head for International Corporates, ASEAN and South Asia region, Standard Chartered, said in a statement.

The statement comes in the wake of reports that Standard Charted Bank counsel had in the Tribunal yesterday alleged collusion between Mr. Mallya and SBI-led consortium of banks during the hearing of its interlocutory application seeking vacation of the DRT interim order, preventing it from transacting with British liquor giant Diageo Plc.

The bankers’ counsel had, however, said, “If the bankers had colluded with Mallya, we would not have been waging a court battle against the high-profile defendant.”

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Printable version | Jan 29, 2020 3:00:45 PM |

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