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Vijay Mallya gets 4-week deadline to declare assets

Vijay Mallya gets 4-week deadline to declare assets

A bench of Justices Kurian Joseph and R F Nariman also pulled up Mallya for not giving details of USD 40 million which he had allegedly received from British liquor giant Diageo in February this year, saying it was of the prima facie view that proper disclosure as per its earlier order was not made.

The Supreme Court on Tuesday slammed embattled beer baron Vijay Mallya for not making full disclosure of his overseas properties.

The judges have now asked him to furnish complete details of his assets abroad within a month.

A bench of Justices Kurian Joseph and R F Nariman also pulled up Mallya for not giving details of USD 40 million which he had allegedly received from British liquor giant Diageo in February this year, saying it was of the prima facie view that proper disclosure as per its earlier order was not made.

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"We are prima facie of the view that the report has not made a proper disclosure in respect of our order of April 7 directing to make complete disclosure of assests and in particular, the receipt of USD 40 million as to when it was received and how it has been dealt till date", the bench said.

The apex court asked Mallya to make a detailed disclosure of his assets abroad like he had done while disclosing his properties in India and that too, within four weeks. It said that the details Mallya filed earlier in his disclosure statement about his foreign properties do not have reference of cash in hand or bank details and details of assets like he has done for those in India. At the outset, the bench observed that if Mallya wanted to come clean he would have told the court about the USD 40 million which was a huge amount deposited in the bank account.


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"We are not happy the way you (Mallya) filed your statement. We cannot find any details of USD 40 million or where it has been expended, in the report furnished to the apex court by the liquor baron. USD 40 million dollar was cash in hand and you (Mallya) have not told us what you did with that amount. Our direction was disclosure of assets and cash in hand. Nobody knows what happened with USD 40 million", the court said.

During the hearing, Attorney General Mukul Rohatgi, appearing for the consortium of banks, said Mallya has taken the court for a ride and has tried to deceive the court by not giving complete details of his assets.


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Earlier the Debt Recovery Tribunal in March this year had passed an order freezing USD 75-million payout by Diageo to Mallya but the British company said it had already paid USD 40 million to him.

SBI had approached the tribunal to claim the money Mallya had got from Diageo.

In association with Mail Today Bureau