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Mar 10,

Finance Minister Arun Jaitley today said the banks will take all possible actions to recover loan amount extended to the companies owned by Vijay Mallya. Responding to questions raised by Congress leader Mallikarjun Kharge, in the Lok Sabha, Mr Jaitley said the banks have started taking action against the companies to recover the debt.

He said till 30th November 2015, the total dues compounding with interest is to the tune of over nine thousand crore rupees against Vijay Mallya’s companies. He said some cases were filed in different courts across the country and some counter-cases were also registered.

Finance minister said the first installment of loan was given to the company in September 2004 and later in 2008. He said the accounts of the companies were declared non performing accounts on 30th April 2009.

Earlier, raising the matter Mr Kharge said how the businessman was allowed to leave the country despite objections raised by banks. He also wanted to know why his passport was not confiscated.

Dissatisfied with Finance Minister Arun Jaitley’s reply over the issue of Vijay Mallya leaving the country, the Congress and the Left parties staged a walkout from the Lok Sabha .

Congress Vice-President Rahul Gandhi today asked how the government allowed Vijay Mallya flee the country. Talking to reporters outside Parliament, Mr Gandhi took a dig at the Centre and said its schemes will only help black marketeers to convert their black money into white. Rahul Gandhi said the Finance Minister during his reply in Lok Sabha on the issue did not tell how the industrialist left the country.