Beleaguered liquor baron Vijay Mallya on Monday urged the Supreme Court to recall its contempt notice issued to him in July allegedly for failing to make full disclosure of his assets, both domestic and overseas, for a “meaningful settlement” with SBI-led consortium of banks.
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The banks’ contempt petition said that Mallya and his company, Kingfisher Airlines, have tried to sell assets to defeat the proceedings initiated against them before a debt recovery tribunal in Bengaluru. “If he’s not appearing. he can’t be heard”.
The contempt notice was issued to Mallya for not making full disclosure of assets including $40 million received in February from Diageo, the British liquor major.
The bench then asked the Attorney General to file a response to Mallya’s petition for recall of its earlier order and posted the matter on September 27.
A consortium of 17 banks on Monday pressed for United Breweries Chairman Vijay Mallya’s presence in the Supreme Court in the ongoing contempt proceedings related to the Rs 9,000 crore loan default case.
The top court had on July 25 issued notice to Mallya on a plea by the consortium seeking contempt proceedings against him for not makings full disclosure of assets held by him, his wife and children both in India and overseas.
On April 7, the apex court had directed Mr Mallya to disclose all assets held by him and his family.
On July 14, Mr Rohatgi claimed that Mr Mallya had provided wrong details of his assets in a sealed cover to the apex court. Banks also said disclosures made by Mallya on his Indian and overseas properties were “vague”.
On April 26, the Supreme Court had directed Mallya to disclose his assets to the consortium.
Sources said SFIO has widened investigations into the affairs of Kingfisher Airlines and is now focussing on the lenders as well as their top management personnel for the suspected lapses in the due diligence process before extending loans to the carrier.
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The consortium had moved the top court seeking the settlement of his outstanding dues amounting to more than Rs 9,000 crore.
