New Delhi, Oct. 3 -- A consortium of banks led by State Bank of India (SBI) recently informed the Bombay High Court (HC) that, as of 31 August, fugitive businessman Vijay Mallya owes lenders roughly Rs.8,752 crore.

According to a report by The Economic Times, fugitive businessman Vijay Mallya, founder of the now-defunct Kingfisher Airlines and former chairman of United Breweries Group, has settled dues amounting to Rs.10,270 crore. The lenders' statement contradicts Mallya's claim that the banks had already recovered more than the amount owed to them.

In an affidavit, the banks informed the Bombay HC that the debt recovery officer had "temporarily recovered" Rs.10,270 crore under a bond undertaking provided by the consortium. The lender...