Disclose all assets within a week: SC to Mallya

The Supreme Court on Tuesday asked Kingfisher owner and liquor baron Vijay Mallya to disclose all his assets, within and outside the country, within a month. The court has been reiterating this demand in earlier hearings also but Mallya has insisted all along that he has already complied with this request.

However, Attorney General Mukul Rohtagi, on Tuesday alleged the disclosure was not full and honest. The bench consisting of judges Kurian Joseph and R F Nariman found that there was prima facie ground for the allegation.

The judges asked Mallya's counsel, C S Vaidyanathan, to clarify how the proceeds of $40 million received in February in the deal with British liquor firm Diageo was dealt with. He said that the amount was not cash in hand at the time of disclosure but used for business purposes.

The Attorney General, representing a consortium of banks led by State Bank of India, reiterated his demand that summons must be issued to the industrialist, who is abroad, for disobeying earlier court orders and trying to deceive it.

The banks are suing him for loan defaults to the tune of Rs 900 crore. The court granted him time so that he could make full disclosure with details of the ownership and address. IN THE LINE OF FIRE

• Attorney General Mukul Rohtagi, on Tuesday alleged the disclosure was not full and honest
• The bench consisting of judges Kurian Joseph and R F Nariman found there was prima facie ground for the allegation
• The judges asked Mallya's counsel, C S Vaidyanathan, to clarify how the proceeds of $40 mn received in Feb in the deal with Diageo was dealt with