DRT directs bank not to pay $40 mn to Mallya
The Debt Recovery Tribunal (DRT) on Tuesday directed US-based JP Morgan Bank not to disburse $40 million to beleaguered businessman Vijay Mallya. The amount is part of the $75 million settlement deal struck between Mallya and UK-based beverages firm Diageo. Further, the DRT asked JP Morgan to submit before it statements of the account held by Mallya in the bank.