NEW DELHI: The apex court has on Tuesday rejected a series of pleas filed by liquor baron vijay Mallya and eventually directed him to disclose all his assets including that of his wives and children.
A Supreme court bench comprising of Justice Kurian Joseph and RF Nariman rejected pleas requesting the court over exemption from disclosure of his assets as he fears that it may be used against him, in connection with the Enforcement Directorate’s investigations over the IDBI bank’s Rs 900 crores money laundering case.
The court has also rejected pleas asking for protection from the court that the information derived through the disclosure of his assets will not be used against him in any case including the one being investigated by the ED.
Vijay Mallya’s lawyer CS Vidayanathan said that as of now Mallya can only guarantee a sum of Rs 1,320 crores and added that he has been working on clearing the total debt amount as soon as possible.
The apex court directed that if Vijay Mallya has anything to negotiate with he must do so before the court of law. But, he rejected the court’s opinion saying that banks are more interesting in seeing him in prison than getting their loans recovered.
At the end of the hearing, the top court has ordered the Bengaluru based Debt recovery tribunal to finish the case in next 3 months.