DRT to give verdict on Mallya‘s Rs 500 cr Diageo deal on Mar 7

In a latest development on the tussle between Vijay Mallya and his lenders, it is learnt that the debt recovery tribunal (DRT) will announce its verdict on attaching the proceeds from Mallya's Rs 500-crore-rupee settlement deal with Diageo on March 7.

However, State Bank of India’s (SBI's) petition to arrest Mallya and impound his passport will take place at a later date.  SBI had moved the Karnataka High Court seeking his arrest and seizure of his passport.

Earlier in the day, CNBC-TV18 had reported that the securities and exchange board of India (Sebi) has sought a whole host of documents from Mallya as it probes the "money trail" between Mallya and United Spirits in 2012.Watch video for more...