Tycoon Vijay Mallya has been facing investigation from various agencies over a series of cases.
A consortium of banks has approached the Supreme Court against tycoon Vijay Mallya -- who is wanted in a series of loan default cases -- accusing him of contempt of court over disclosure of assets.
In April, the top court had directed Mr Mallya, the chairman of United Breweries to disclose all assets held by him and his family, after a consortium of creditors rejected his offer to repay Rs. 4,000 crore to settle the debts of the grounded Kingfisher Airlines.
The consortium of 17 banks, including the State Bank of India, to which Mr Mallya's Kingfisher Airlines owed Rs. 9,091 crore, had however, told the court that they were willing to join negotiations for a settlement.
Mr Mallya - who has skipped the country and is currently in UK -- later agreed to disclose a list of assets held by him in India to the apex court in a sealed envelope.
Today, Attorney General Mukul Rohatgi said the tycoon has not been totally forthcoming about his assets and wanted the court to hear the case at the earliest. The top court agreed to hear it on July 18.
In a statement on March 13, Mr Mallya claimed that banks had already recovered Rs. 2,494 crore from Kingfisher Airlines since 2013.
On June 11, the Enforcement Directorate had attached property worth Rs. 1,411 crore belonging to Mr Mallya and his United Breweries in connection with a money laundering probe in the IDBI Bank loan default case. A special court had declared Mr Mallya a proclaimed offender in the case and his passport has been revoked.
Unfazed, the tycoon had recently made an appearance at the Formula 1 racetrack in UK's Silverstone, saying "Life must go on".