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Banks consortium moves SC, files contempt petition against Vijay Mallya

The consortium moved to the apex court against Mallya for not disclosing his assets.

By: ANI | New Delhi |
July 14, 2016 5:47:22 pm
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A consortium of banks, including the State Bank of India, on Thursday filed a contempt petition in the Supreme Court against liquor baron Vijay Mallya for not disclosing his assets as directed by the apex court.

The apex court will hear the plea on July 18.

The top court had, in April, directed Mallya to disclose all assets held by him and his family, after his creditors rejected his offer to repay Rs 4,000 crore to settle the debts of the grounded Kingfisher Airlines.

Mallya, the chairman of United Breweries, had then agreed to disclose a list of assets held by him in India to the Supreme Court.

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He had requested the court to not pass the information on to banks.

Both the Enforcement Directorate and the Central Bureau of Investigation (CBI) are probing Mallya for the Rs 9,000 crores loan scam.

Mallya had taken this amount as loans from several banks in order to pay dues of his now defunct Kingfisher Airlines.

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