Supreme Court asks Vijay Mallya to give complete details of his foreign assets in 4 weeks
The court also told Mallya to disclose what he did with USD 40 million he had received from Diageo.
Zee Media Bureau
New Delhi: The Supreme Court on Tuesday asked Vijay Mallya to give complete details of his assets abroad in four weeks.
The court further told Mallya to disclose what he did with USD 40 million he had received from Diageo.
The SBI-led consortium of banks had earlier approached the apex court seeking its intervention in bringing back Vijay Mallya to India and also repayment of money which the beleaguered businessman had taken.The top court had wanted to know from the Union Government about his whereabouts.
The Attorney General informed the apex court that Mallya was in England. The banks, in their plea, told the apex court that there was an outstanding loan of almost Rs 9,000 crores against the businessman.
The banks have argued that the business tycoon has not been candid with the court regarding his assets, citing the failure to disclose the severance package he received from Diageo Plc as part of his exit from United Spirits Ltd.
On April 26, the Supreme Court had directed Mallya to disclose his assets to the consortium. The banks also said the disclosures made by Mallya on his Indian and overseas properties were "vague".
The banks also refuted Mallya's allegation that all 17 banks did not reject the three proposals made by him for repayment of over Rs 9,000 odd crores in instalments.
With PTI Inputs