Editor DeskJul 25, 20161 min readSC NOTICE TO MALLYA ON CONTEMPT PLEA On a contempt petition by a consortium of banks led by State Bank of India, the Supreme Court on Monday issued notice to runaway liquor baron Vijay Mallya, who shifted to London in the wake of multiple legal proceedings by banks for recovery of Rs 9,000 crore.Appearing for the consortium, attorney general Mukul Rohatgi told a bench of Justices Kurian Joseph and RF Nariman that Mallya had wilfully failed to comply with the April 7 order of the apex court directing him to make a complete disclosure of assets held by him and his family members. On April 21, the businessman had submitted a sealed cover reportedly containing details of his and family's assets.On April 26, the court perused the list and said Mallya's personal assets were worth Rs 2,017.36 crore. However, the worth of family assets continued to remain secret as the court honoured Mallya's counsel's request not to make it public. But the court gave a copy of the asset details to the banks.Read more on the story here
On a contempt petition by a consortium of banks led by State Bank of India, the Supreme Court on Monday issued notice to runaway liquor baron Vijay Mallya, who shifted to London in the wake of multiple legal proceedings by banks for recovery of Rs 9,000 crore.Appearing for the consortium, attorney general Mukul Rohatgi told a bench of Justices Kurian Joseph and RF Nariman that Mallya had wilfully failed to comply with the April 7 order of the apex court directing him to make a complete disclosure of assets held by him and his family members. On April 21, the businessman had submitted a sealed cover reportedly containing details of his and family's assets.On April 26, the court perused the list and said Mallya's personal assets were worth Rs 2,017.36 crore. However, the worth of family assets continued to remain secret as the court honoured Mallya's counsel's request not to make it public. But the court gave a copy of the asset details to the banks.Read more on the story here
