Reveal all foreign assets owned by Vijay Mallya and kin: SC tells banks

April 26, 2016 16:17

The Supreme Court today ordered the banks to make the complete disclosure of all foreign assets owned by beleaguered liquor baron Vijay Mallya and his family.

The apex court order came a day after the consortium of banks alleged that the 60-year-old businessman, who has been in the United Kingdom, was not cooperating in the investigation of cases lodged against him and was averse to disclosing foreign assets.

The apex court by its April 7 order had asked Mallya to disclose all his assets -- movable, immovable, tangible and intangible -- and other shareholdings and beneficial interests in India and abroad by April 21.

It had asked Mallya, who owes over Rs 9,000 crore to nearly 17 banks, to deposit a "substantial amount" with it to "prove his bonafide" that he was "serious" about meaningful negotiations and settlement.

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