image
Supreme Court issues notice against Vijay Mallya for flouting directive to disclose assets
New Delhi, July 25 (IBNS) : The Supreme Court on Monday issued a notice to liquor baron Vijay Mallya for not disclosing his assets, reports said.
The notice was issued in response to a petition filed by the consortium of 17 banks which had sanctioned loans for the now defunct Kingfisher airlines of which Mallya was the Chairman.
The banks sought contempt proceedings against Mallya.
The court has also given more time to the Debt Recovery Tribunal to complete hearing in the Mallya loan default case.
In April, Mallya was directed by the court to disclose all assets held by him and his family, after the creditor banks rejected his offer to repay Rs. 4,000 crore to settle the debts.
It had asked Mallya, who is now in the UK, to deposit a "substantial amount" with it to "prove his bonafide" that he was "serious" about meaningful negotiations and settlement.
Mallya, the chairman of United Breweries, had later agreed to disclose a list of assets held by him in India to the Supreme Court.
Various agencies, including the Enforcement Directorate, are investigating into the cases of loan default and money laundering against Mallya, Chairman of United Breweries.
Top Headlines
-
News
Rift in INDIA bloc as Priyanka Chaturvedi slams Trump's 'Indian economy is dead' remark contradicting with Rahul
July 31, 2025
-
News
London to host maiden thought leadership summit IndiSetu to boost India-UK innovation and cultural ties
July 30, 2025
-
News
'No calls between Modi and Trump from April 22 to June 17': Jaishankar rejects US Prez's ceasefire claim
July 28, 2025
-
News
IBCN 2025: Celebrating the Chettiar legacy, powering youthful enterprise
July 11, 2025
-
News
Tennis player Radhika Yadav shot dead by her father over an Instagram reel in Gurugram
July 10, 2025
-
News
Rotary Year 2025-26: Dr. Ramendu Homchaudhuri leads charge towards a Thalassemia-free India
July 01, 2025
-
News
India refuses to sign SCO joint statement lacking Pahalgam attack but featuring Balochistan unrest
June 26, 2025
-
News
Iran confirms nuclear facilities were 'badly damaged' by US strikes
June 25, 2025
-
News
'Israel violated ceasefire too, I'm not happy with them': Donald Trump dials Benjamin Netanyahu
June 24, 2025
-
News
Modi meets members of Operation Sindoor outreach delegations, lauds them for voicing India's stand
June 10, 2025