SC asks Mallya to reveal usage USD 40 million received from Diageo

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Supreme Court asks Vijay Mallya to disclose his foreign assets in four weeks
Supreme Court asks Vijay Mallya to disclose his foreign assets in four weeks

New Delhi : Supreme Court on Tuesday asked liquor Baron Vijay Mallya to reveal what he did with USD 40 million received from Diageo. The apex court also asked him to make proper disclosure of his foreign assets. 

Four weeks of time has been granted to Vijay Mallya for submitting the details of his assets abroad with particular details of the cost, address and other key information.

Representing banks in the court Attorney General Mukul Rohatgi told the Supreme Court that summons must be issued against Mallya for misleading the court proceedings under the contempt of court rules.

He also alleged that Vijay Mallya is willfully deceiving the court and not making proper disclosures about his assets.

"Every entry in his statement of assets is done with the purpose to deceive. Persistence of his defence makes his offence more grave," said Attorney General Mukul Rohatgi to a bench of Justice Kurian Joseph and Justice Rohinigton Nariman. 

Vijay Mallya, on the other hand, has defended himself by saying that the payment of Rs 40 million dollars received from Diageo was not in cash form and the same was used for payments and business purpose.

Refuting charges of contempt of court, Mallya has assured it will furnish details within four weeks. The next hearing is on November 24.