Accepting the submission of the banks, the apex court on Monday issued contempt notice to Mallya, and sought his response on the plea of the consortium of banks led by State Bank of India seeking contempt proceedings against him for his failure to comply with the court order.
Lenders to Vijay Mallya on Monday told the Supreme Court that the liquor baron has not disclosed his full assets as directed by the court.
Accepting the submission of the banks, the apex court on Monday issued contempt notice to Mallya, and sought his response on the plea of the consortium of banks led by State Bank of India seeking contempt proceedings against him for his failure to comply with the court order.
Appearing for the banks, the attorney general Mukul Rohatgi said, "This gentleman (Mallya) has not complied fully with the orders of the court and he has not disclosed all the details about his assets. He has also not disclosed the amount of $45 million received by him from Diageo (British liquor major)." The banks have contended that Mallya had provided wrong details of his assets in a sealed cover to the apex court.
It was alleged that a lot of information had also been concealed, including a cash transaction to the tune of Rs 2,500 crore, which amounted to contempt of court.
According to banks, Mallya, who is presently residing in the UK, was not cooperating in the investigation of cases against him and was averse to disclosing his foreign assets.
In April, the court had directed Mallya to disclose all assets held by him and his family, after his creditors rejected his offer to repay Rs 4,000 crore to settle the debts of the grounded Kingfisher Airlines.
Mallya, the chairman of United Breweries, had then agreed to disclose a list of assets held by him in India to the Supreme Court.
He had requested the court to not pass the information on to banks.
Earlier, he had filed an affidavit before the apex court but refused to disclose the property details saying his wife stays in California and his children (two daughters and a son) are US citizens but submitted the detail in a sealed cover to the court.
Both the Enforcement Directorate and the Central Bureau of Investigation (CBI) are probing Mallya for the Rs 9,000 crore loan scam.
Mallya had taken this amount as loans from several banks in order to pay dues of his now defunct Kingfisher Airlines but later failed to pay.
The banks seek the court to direct Mallya to return India and repay the loan.
Recovery suits have been filed by the banks in Bangalore, Mallya's native place, and a final decision is yet to come.
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