SC-MALLYA 2 LAST

Earlier, the Supreme Court had sought details of assets Earlier, the Supreme Court had sought details of assetsfrom Mallya in a sealed cover. Recently, the consortium of banks had alleged that Mallyawas not cooperating in the investigation of cases against himand was averse to disclosing his foreign assets. In a rejoinder affidavit to Mallya’s reply, the banks hadsaid that disclosure of overseas assets by him and his familywas significant for recovering the dues. Rohatgi had earlier said that the beleaguered businessmanhas also not agreed to deposit "substantial amount" as part ofof Rs 9,400 crore loan due on him to establish his bonafide". Mallya had said the banks had no right over informationregarding his overseas movable and immovable assets as hewas an NRI since 1988. He had also claimed that as an NRI, he was not obliged todisclose his overseas assets, and added that his wife andthree children, all US citizens, also need not disclose theirassets. The court on April 7 had directed Mallya to disclose byApril 21 the total assets owned by him and his family in Indiaand abroad while seeking an indication from him when he wouldappear before it. It had asked Mallya, who owes over Rs 9,000 crore toaround 17 banks, to deposit a "substantial amount" with it to"prove his bonafide" that he was "serious" about meaningfulnegotiations and settlement. PTI MNL SJK RKS RRTDV