India SC shares details of Kingfisher chief Vijay Mallya's assets with banks | The Daily Star
07:37 PM, April 26, 2016 / LAST MODIFIED: 07:51 PM, April 26, 2016

Supreme Court of India shares details of Kingfisher Airlines chief Vijay Mallya's assets with banks

- The Supreme Court of India on April 26, 2016 shared the details of assets held by Vijay Mallya, his three children and his estranged wife to the consortium of banks led by the State Bank of India (SBI)

- The apex court asked the banks to inform within two months the action taken on the basis of these details.

- Earlier on April 25, 2016 authorities revoked the passport of Vijay Mallya accused of hiding in Britain over huge debts from his defunct Kingfisher Airlines.

The Supreme Court of India today shared the details of assets held by owner of defunct Kingfisher Airlines Vijay Mallya, his three children and his estranged wife to the consortium of banks led by the State Bank of India (SBI).

The decision was made on the request of attorney general Mukul Rohatgi, reports The Times of India.

The Indian apex court also asked the banks to inform within two months their action on the basis of these details.

Mallya was also slammed by the top court for not honouring its April 7 order directives, which include depositing a specific amount in SC, give a possible date for his return to India and disclose all properties held by him and his family members in India and abroad.

The business tycoon is pursued by a consortium of banks led by the SBI for over Rs 9,000 crore loan default payments, reports The Times of India.

Mallya, having faced a non-bailable arrest warrant, had recently told the apex court that he was prepared to deposit an additional Rs 2,468 crore over and above the earlier offer of Rs 4,400 crore against the demand of Rs 9,000 crore by the consortium of banks led by the SBI.

Source: The Times of India

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