 "Vijay Mallya")
The Supreme Court on Wednesday issued notice to Vijay Mallya on petition of consortium of banks seeking disclosure of his assets and seizure of passport. This followed a statement by the government's top lawyer, Attorney General Mukul Rohatgi who informed the court that Mallya left the country on March 2.
The apex court has given Mallya two weeks to respond to the notice. The next hearing has been scheduled for March 30.
The plea in the Supreme Court has been moved by 17 banks, including State Bank of India, against Mallya whose various firms have taken loans from them. The companies owe over Rs 7000 cr to the consortium of banks.
Last week, Vijay Mallya and Diageo who took over United Spirits arrived at a non-compete agreement that provides an exit for the former liquor baron from the company with a $ 75 mn payout spread over 5 years. Reports have indicated that Mallya may have already received $40 mn as the first tranche of the overall settlement.
