SC to Mallya: Disclose all assets by April 21, inform date of return

New Delhi: The Supreme Court on Thursday directed liquor baron Vijay Mallya to disclose all the assets owned by him and his family in India and abroad by April 21.

SC also sought an indication from him when he will appear before it.

The directions by the bench, comprising of Justices Kurian Joseph and R F Nariman, came after a consortium of banks led by State Bank of India "unanimously rejected" the proposal in the current form offered by Mallya and his companies to pay Rs 4,000 crore by September towards settlement of his loan.

The bench agreed with the consortium that Mallya's presence was necessary in the country to show his bona fides that he was serious about settling his dues.

The court has set the next date of hearing for April 26.

Earlier, Mallya who is facing legal proceedings for alleged default of loans worth over Rs 9,000 crore from various banks, offered to pay a sum of Rs. 4,000 crores of the Rs 6,903 crores to the lenders for settling the loans extended to it by a consortium of 13 banks headed by the State Bank of India.

(With agency inputs)

News24 Bureau