Will Vijay Mallya disclose his total assets before SC today?

Zee Media Bureau

New Delhi: For liquor baron Vijay Mallya, who is facing legal proceedings for alleged default of loans worth over Rs 9,000 crore from various banks, today is the last date by which he will have to disclose the total assets owned by him and his family in India and abroad.

Vijay Mallya was earlier directed by the Supreme Court to disclose by April 21 the total assets owned by him and his family in India and abroad.

The apex court had also sought an indication from him when he will appear before it.

It had asked Mallya, who owes over Rs 9,000 crore to around 17 banks, to deposit a "substantial amount" with it to "prove his bonafide" that he was "serious" about meaningful negotiations and settlement.

The directions by the bench, comprising Justices Kurian Joseph and R F Nariman, came after a consortium of banks led by State Bank of India "unanimously rejected" the proposal in the current form offered by Mallya and his companies to pay Rs 4,000 crore by September towards settlement of his loan.

The bench had agreed with the consortium that Mallyas presence was necessary in the country to show his bona fides that he was serious about settling his dues.

After a brief hearing of 20 minutes, it had posted the matter for further hearing on April 26.

At the outset, the consortium of banks had told the apex court that it was not averse to the settlement but Mallya has to show his bona fides by being present in the country.

With Agency Inputs