SC orders Vijay Mallya to disclose details of all assets within a month

SBI-led consortium of banks have filed a plea against Mallya for recovery of more than Rs 6,000 crore from him

The Supreme Court on Tuesday directed business tycoon Vijay Mallya to file a detailed affidavit about all his assets within a month. It has listed November 24 as next date of hearing in the case. The apex court was hearing the plea filed by SBI-led consortium of banks against beleaguered businessman for recovery of more than Rs 6,000 crore from him.

The court also asked Mallya to disclose what he did with $40 million he had received from Diageo.

The consortium of banks had approached the apex court seeking its intervention in bringing back Mallya to India and also repayment of money which the beleaguered businessman had taken.

The banks, in their plea, told the 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 disclosed his assets.

On April 26 too, 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 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.