Mallya’s overseas assets must be disclosed to banks: Supreme Court
Belegaured liquor baron Vijay Mallya was today asked by the Supreme Court to disclose all his overseas assets to the consortium of banks that lent his now-defunct airline Rs 9,000 crore.
The apex court also directed him to provide details of assets owned by his family member to the banks in a sealed cover. It also asked the Bengaluru Debt Recovery Tribunal to expedite hearing of recovery suit within next three months.
Mallya has pegged domestic assets at Rs 2,014 cr, overseas assets at Rs 748 cr, his lawyer said.
His lawyer contended that Mallya fears that banks are not interested in settlement and only want to “park him behind the bars”. Mallya told the apex court that “returning to India is meaningless given the context”. Mallya’s lawyer tells the court that he has no information when his client will return to India.
The Attorney General Mukul Rohatgi argued that Mallya is playing “hide and seek” and is a “fugitive from justice”. The AG said that the government will approach UK government if further action against Mallya is required. The AG further told the court that Mallya did not comply with court’s order to indicate his date of return to India and appearance before the court.
