SC issues notice to Mallya over petition filed by banks for not disclosing his assets

New Delhi, July 25 : The Supreme Court on Monday issued a notice to liquor baron Vijay Mallya over the contempt petition filed by a consortium of banks against him for not disclosing his assets as directed.

The apex court also gave more time to the Debt Recovery Tribunal to complete the hearing in Mallya's loan default case.

Attorney General Mukul Rohatgi on behalf of the Centre told the Supreme Court that Mallya has not been candid with the court.

"He is accountable since this is public money. Mallya did not disclose 45 million dollars received by him," he added. The apex court asked Mallya to respond on the same in four weeks. The apex court's directive came after the consortium of 17 banks, owed a combined Rs.9,091 crore by Kingfisher Airlines, informed that they had rejected Mallya's offer but were willing to join negotiations for a settlement.

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

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

He had requested the apex court not to 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 loan from several banks in order to pay dues of his now defunct Kingfisher Airlines.