Supreme Court directs Vijay Mallya to fully disclose foreign assets in 4 weeks

The court had earlier asked Vijay Mallya to appear before it in a case of allegedly evading summons in a FERA violation matter.

By: Express Web Desk | New Delhi | Updated: October 25, 2016 7:16 pm
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The Supreme Court has directed liquor baron Vijay Mallya to fully disclose all his foreign assets in four weeks. The court observed that prima facie Mallya has not come out clean as yet. The court has also asked Mallya to disclose what he did with the 267 crores he had received from Diageo. Earlier in October, the Enforcement Directorate told a Delhi court that Mallya had no intention of coming back to India and his passport was revoked due to his own conduct.

WATCH VIDEO: Supreme Court Directs Vijay Mallya To Fully Disclose Foreign Assets In 4 Weeks 

 

The court had earlier asked the liquor baron to appear before it in a case of allegedly evading summons in a FERA violation matter. Advocate N K Matta, appearing for the ED, also told the court that under the provisions of law, Mallya can be given travel documents, even if he has no passport. The ED counsel also opposed Mallya’s plea seeking exemption from personal appearance on the ground of lack of passport.

Currently, Kingfisher owes over Rs 9000 crore to 17 banks including the SBI, IDBI Bank, PNB, BoI, Bank of Baroda, United Bank of India, Central Bank, UCO Bank, Corporation Bank, Indian Overseas Bank , Federal Bank , Punjab and Sind Bank, Axis Bank among others. So far, the ED has attached Mallya’s properties worth over Rs 8,000 crore under PMLA after the agency expanded its probe into the case. On August 23, the ED registered a fresh case against Mallya and Kingfisher for loan default of Rs 6,027 cr.