Banks have no right to seek information about my assets, says Mallya in SC

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New Delhi, Apr 21: Former Chairman of the UB group, Vijay Mallya today filed an affidavit in the Supreme Court stating that the banks have no right to access information on his assets. In the affidavit he said he would submit in a sealed cover details of his assets by June 26.

The Supreme Court is hearing a petition filed by the consortium of banks that sought a stay on Mallya leaving the country in the wake of him owing them nearly Rs 8,500 crore in loans. On the last date of hearing the Supreme Court had directed Mallya to submit details of his assets.

vijay mallya

When the matter came up for hearing today, Mallya said that while he would share details of his assets with the Supreme Court, the banks however should not be permitted to access the same.

Banks have no right

The banks have no right to access details of the foreign assets held by me or my family members he submitted. He said that the loan given to Kingfisher Airlines was not on the basis of his foreign assets.

He also stated that the Kingfisher Airlines was a genuine business failure.

He said he could make an additional payment of Rs 1,398 crore which was withheld by the Karnataka High Court.

On the last date he had offered to pay Rs 4,000 crore. He further said that the token money could be paid only if the Supreme Court intervenes in the matter.

I cannot pay the amount until the court allows the sale of shares that have been stuck in litigation.

It may also be recalled that the banks had on the last date of hearing rejected Mallya's offer to pay Rs 4,000 crore towards the loan amount.

The banks told the court that a substantial amount needs to be paid and only then negotiations could take place. Mallya had sought time to come up with a fresh proposal.

ED seeks deportation

Meanwhile the Enforcement Directorate which had obtained a non-bailable warrant against Mallya from a Mumbai court has written to the Ministry of External Affairs seeking to commence the process to have Mallya deported.

The ED had moved the court earlier this month seeking a non-bailable warrant against Mallya. The ED had contended that he has dodged summons more than thrice and hence a non bailable warrant be issued.

The Ministry of External Affairs too is awaiting a response from Mallya after his diplomatic passport had been suspended.

He is required to reply by tomorrow failing which action would be taken to either impound or revoke his passport.

OneIndia News


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