[img src="https://3.bp.blogspot.com/-15pimps4csg/VtBd_UabnVI/AAAAAAAAMuI/vmqqF2gq5vM/s1600/Vijay%2BMallya--621x414.JPG" width="250px" height="250px"][/img]

Vijay Mallya resigned from his post as chairman of United Spirits on Thursday which is controlled by Diageo Plc. Diageo will pay Mallya INR 515 crore as part of the five year non-compete agreement. Recently he turned 60 and said i have decided to spend more time in England closer to my children. Diageo following allegations of irregularities on loans given to UB Group companies. His resignation comes at a time when two banks have declared him as a willful defaulter. He has been unable to pay dues to 17 banks amounting to INR 7,000 crore that was lent to Mallya's Kingfisher Airlines.

Here's how much he owes to Indian banks:
State Bank of India: Recovered only INR 155 crore out of INR 1,623 crore.
Punjab National Bank: INR 1,500 crore​
IDBI Bank: INR 800 crore
Bank of India: INR 650 crore
Central Bank of India: INR 410 crore
UCO Bank: INR 320 crore
Corporation Bank: INR 310 crore
State Bank of Mysore: INR 150 crore
Indian Overseas Bank: INR 140 crore
Federal Bank: INR 90 crore
Punjab & Sind Bank: INR 60 crore
Axis Bank: INR 50 crore

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