Today, Supreme Court tightened the legal noose around beleaguered businessman Vijay Mallya, court slammed Mallya to made disclosure of his assets. Court further asked him to disclose what he did with the $40 million, he received from Diageo, a British company, that bought the liquor baron’s United Spirits Ltd (USL).
Mukul Rohatgi, representing consortium of 17 banks led by SBI, persisted that Mallya willfully deceived the court and did not make proper disclosures and also argued that summons must be issued against him for misleading the court proceedings under the contempt of court rules. He has stashed the money in a Swiss Bank.
Mahesh Aggarwal, representing Mallya, while rebutting the agruement said since no settlement took place, therefore he is not obliged for disclosure. However, court rejected it and upheld Rohtagi’s arguement.
“We dont find answer from your reply on 40 million dollar(s). We are not happy with the way you filed the statement, We are prima facie of view that Mallya has not made proper disclosure of assets as per our order, his response is vague,” the court said
Refuting the charges for contempt, Mallya has assured it will furnish details within four weeks.
Court fixed the matter now for 24 November.
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