ADVERTISEMENTREMOVE AD

Vijay Mallya Not Cooperating in Probe: Banks Tell Supreme Court

The consortium said that disclosure of overseas assets owned by him is significant for recovering the dues.

Published
Business
2 min read
story-hero-img
i
Aa
Aa
Small
Aa
Medium
Aa
Large
Hindi Female

The consortium of banks alleged in the Supreme Court, on Monday, that Vijay Mallya, who has been in the United Kingdom, is not cooperating in the investigation of cases lodged against him and was averse to disclosing foreign assets.

Further, in the rejoinder to the affidavit filed by the beleaguered businessman, the consortium said that disclosure of overseas assets owned by him and his family is significant for recovering the dues.

When contacted, Attorney General Mukul Rohatgi said:

We have filed a rejoinder to Mallya’s affidavit in which it has been stated that he is also not indicating the date of his return to the country.
ADVERTISEMENTREMOVE AD

He said the liquor baron has also not agreed to deposit the “substantial amount” as part of Rs 9,400 crore loan due on him to establish his bonafide”.

The AG said the “non-disclosure” by Mallya does not enable the banks to ascertain his ability to repay.

In its affidavit, the consortium of banks wrote:

We have nothing to do with Mallya’s claim that he cannot appear personally because of government’s action against him.

The matter is listed for hearing for 26 April.

ADVERTISEMENTREMOVE AD

The rejoinder was filed in response to Mallya’s affidavit which had said that the banks have no right over the information of his overseas movable and immovable assets as he was an NRI since 1988.

Mallya had also claimed that his three children and wife, all US citizens, also need not disclose their assets.

“Overseas assets were not considered while granting loans,” he said in his statement.

Mallya, however, had said to demonstrate his bonafide and also that of his companies, an aggregate of Rs 1591 crores can be deposited before the apex court.

The court on 7 April had directed Mallya to disclose the total assets owned by him and his family in India and abroad by 21 April.

It had asked Mallya, who owes over Rs 9,000 crore to around 17 banks, to deposit a “substantial amount” with it to “prove his bonafide” that he was “serious” about meaningful negotiations and settlement.

ADVERTISEMENTREMOVE AD

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

Read Latest News and Breaking News at The Quint, browse for more from news and business

Topics:  Banks   Vijay Mallya 

Speaking truth to power requires allies like you.
Become a Member
3 months
12 months
12 months
Check Member Benefits
Read More
×
×