The Supreme Court on Monday asked Vijay Mallya to respond within four weeks on why he has not furnished details of his assets as per its directions, reported Business Standard. A State Bank of India-led consortium of bankers had moved the country's top court urging it to initiate contempt proceedings against the former liquor baron.
The court was informed that Mallya has not given details about the $45 million that Diageo Plc paid him for his shares in United Breweries. The petitioners have requested for an urgent hearing. He is accused of several loan defaulting cases and owes around Rs 9,000 crore to 17 Indian banks.