India's Attorney General Mukul Rohatgi told the Supreme Court that businessman Vijay Mallya has not disclosed his full assets, including $45 million received by him from a British firm. "This gentleman has not complied fully with the orders of the court and he has not disclosed all the details about his assets. He has also not disclosed the amount of $ 45 million received by him from Diageo," Rohatgi said to a bench of Justices Kurian Joseph and RF Nariman.
He said a lot of information had also been concealed, including a cash transaction to the tune of £250 million, which amounted to contempt of court. After taking the submissions made by the Attorney General into account, the court issued a notice to Mallya, asking him to respond within four weeks on the plea of consortium of banks led by State Bank of India seeking initiation of contempt proceedings against him.
The SC had sought details of assets from Mallya in a sealed cover, earlier and just recently, the consortium of banks had alleged that Mallya was not cooperating in the investigation of cases against him and was averse to disclosing assets. The Attorney General had in the past, said that beleaguered businessman has not agreed to deposit "substantial amount" as part of £940 million loan due on him to establish his bonafide. Mallya had said the banks had no right over information regarding his overseas movable and immovable assets as he was an NRI since 1988.
