Vijay Mallya has been given a contempt notice by the Supreme Court for not disclosing his assets. (File)
Vijay Mallya has been given a contempt notice by the Supreme Court for not disclosing his assets, after a petition by a consortium of banks trying to recover over Rs 9,000 in unpaid loans from the tycoon.
In April, the 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.
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.
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 A special court had declared Mr Mallya a proclaimed offender in the case and his passport has been revoked.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".