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Disclose asset details of Vijay Mallya: SC

Wed 27 Apr 2016, 13:44:43
Industrialist Vijay Mallya’s objection that he was not bound to disclose his assets abroad, the Supreme Court on Tuesday asked its Registry to furnish to the consortium of banks details of the assets of Mallya, his estranged wife and children.
A bench of Justices Kurian Joseph and Rohinton Nariman passed this order after Attorney General Mukul Rohatgi, appearing for banks submitted that the information in the sealed cover should be disclosed to the banks to go after him and recover the dues.  
Rejecting the submission made by senior counsel C.S. Vaidyanathan, for Mallya that such information can be shared only if there is an assurance that they will not be used for any other proceedings, the A-G said “Mallya, a fugitive who is fleeing from justice cannot claim any immunity from disclosure.”
Earlier, Mr. Vaidyanathan argued that at the time of granting loans, only domestic assets were put under consideration by the lenders. Hence, the banks cannot claim details of Mallya’s foreign assets. He said Mallya had put forward two proposals but the banks have rejected them.

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