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
Nitish Kumar takes Rajya Sabha oath; power shift looms in Bihar
April 10, 2026
-
News
Amit Shah promises UCC, 3,000 aid in BJPs Bengal manifesto
April 10, 2026
-
News
Who will be Bengal CM if BJP wins? Amit Shah breaks silence
April 10, 2026
-
News
'Rape cases will be reopened': PM Modi's 6 guarantees to Bengal; promises 7th pay commission
April 09, 2026
-
News
US military will remain in and around Iran: Trump amid fragile ceasefire
April 09, 2026
-
News
Ceasefire under strain: Iran oil refinery hit hours after US truce begins
April 08, 2026
-
News
US-Iran ceasefire on shaky grounds! Lebanon front threatens to derail fragile truce
April 08, 2026
-
News
Hope to see lasting peace in West Asia: India welcomes US-Iran ceasefire
April 08, 2026
-
News
IRGC Intelligence Chief Majid Khademi killed in Israeli-US strike
April 06, 2026
-
News
Inside the daring US mission to rescue downed airman in Iran amid race against time
April 05, 2026
