Disclose assets by April 21, SC tells Mallya after Banks reject Banks reject his Rs 4,000 crore repayment offer

@theindpanorama

9 years ago

With United Spirits asking its own chairman Vijay Mallya to quit, the majority owner Diageo today said its "contractual obligations" to support his presence would not apply in the event of "defaults" by the Indian businessman and his group firm UB Holdings Ltd. (PTI)

New Delhi, April 7 | The Supreme Court on Thursday directed beleaguered liquor baron Vijay Mallya to disclose to it all his assets—movable and immovable and tangible and intangible—and other interests in India and abroad by April 21.

An apex court Bench comprising Justice Kurien Joseph and Justice Rohinton Fali Nariman asked Mallya to disclose all the assets held by his wife and children and also indicate the date when he could appear before it in person.

The order came after the consortium of 14 banks headed by the State Bank Of India (SBI) told the apex court that that it had rejected Mallya’s offer to pay Rs.4,000 crore by September to settle his outstanding dues amounting to more than Rs 9,000 crore.

The banks had given loans to his grounded Kingfisher Airlines.

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