The Supreme Court on Monday asked the consortium of 17 banks led by the State Bank of India to respond to an application filed by industrialist Vijay Mallya, who is in exile in the UK seeking the reca
The Supreme Court on Monday asked the consortium of 17 banks led by the State Bank of India to respond to an application filed by industrialist Vijay Mallya, who is in exile in the UK seeking the recall of the notice of contempt for allegedly not making full disclosure of all the assets owned by him and his family.
Earlier attorney-general Mukul Rohatgi appearing for the banks submitted before a bench of Justices Kurien Joseph and Justice Rohinton F. Nariman that Mr Mallya had not complied with the order and had failed to appear in court in response to the contempt notice. However, Mahesh Agarwal, counsel for Mr Mallya submitted that the industrialist has contended that the disclosure of the assets was for the settlement of outstanding dues with the banks, and since no settlement was taking place he was not obliged to make disclosure and consequently there was no contempt. The bench then asked the banks to respond to Mallya’s contentions in 10 days and posted the matter for further hearing on September 27.
On July 29, the bench had issued contempt of court notice acting on a petition filed by the banks consortium seeking initiation of contempt of court proceedings against him for non-disclosure of his assets. On April 29, the bench had directed Mr Mallya to disclose all assets held by him and his family, after the consortium rejected his offer to repay Rs 4,000 crore to settle the debts of the grounded Kingfisher Airlines. He was told that he cannot claim immunity from disclosure of his assets and those of his family in India and abroad to consortium of banks. Contempt plea was filed as he failed to comply with this direction.
