New Delhi: The Debt Recovery Tribunal (DRT) on Monday ruled that Vijay Mallya can’t withdraw from USD 75 million severance package that he will be getting for quitting Diageo-owned United Spirits (USL) as its chairman.

The DRT had reserved its order after hearing submissions made by both parties—bankers and Mallya—on 4 March.

SBI had filed three other applications, including one seeking Mallya’s arrest and impounding of his passport, as the bank approached the DRT after Mallya defaulted on loans.

The DRT had taken up on priority the application for securing the first right on the USD 75 million severance package.

 SBI, which leads a consortium of 17 banks that lent money to the discontinued Kingfisher Airlines, had moved the DRT against Mallya in a bid to recover over Rs 7,000 crore from him.

Mallya and Kingfisher Airlines owed Rs 7,800 crore to a consortium of 17 lenders led by State Bank which had an exposure of over Rs 1,600 crore to the now defunct airline.