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Mallya Deliberately Didn't Disclose Full Assets: Banks To SC
A consortium of banks including SBI today told the Supreme Court that beleaguered businessman Vijay Mallya had deliberately not made full disclosure of his assets including USD 40 million which he received in February from a British firm.

A consortium of banks including SBI today told the Supreme Court that beleaguered businessman Vijay Mallya had deliberately not made full disclosure of his assets including USD 40 million which he received in February from a British firm.

Attorney General Mukul Rohatgi, appearing for the consortium of banks, told a bench of justices Kurian Joseph and R F Nariman that Mallya has not disclosed the amount which
he received in February while he had filed the reply in March.

The Attorney General said that as per the Supreme Court rules, Mallya has to appear before the court after a notice has been served upon him in a contempt petition. Rohatgi said that since Mallya had not been granted exemption from appearance, he should not be heard anymore.

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Senior advocate C S Vaidyanathan, appearing for Mallya, told the bench that they have filed a petition for recall of apex court’s earlier order and said that no contempt has been
made.

He also said that the apex court’s earlier order to disclose the assets has been complied with. The bench then asked the Attorney General to file a response to Mallya’s petition for recall of its earlier order and posted the matter on September 27.

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Earlier, on July 25, the apex court had issued notice to Mallya on plea of consortium of banks which alleged that he had not disclosed his full assets including USD 40 million
received by him from a British firm.

The apex court, after noting the submissions by Attorney General, had issued notice to Mallya and asked him to respond. On July 14, Rohatgi claimed that Mallya had provided
wrong details of his assets in a sealed cover to the apex court.

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He further said a lot of information had also been concealed, including a cash transaction to the tune of Rs 2500 crore, which amounted to contempt of court.