The Court had directed him to disclose all assets held by him by April. However, after he failed to do so the banks moved a contempt plea alleging that he had deliberately violated the directive of the Supreme Court.
The court had directed Mallya to disclose all his assets and also those held by his family. Mallya, who had agreed to do so, failed to follow the directive of the Supreme Court.
The banks had then moved the Supreme Court alleging that Mallya who owes them nearly Rs 9,000 crore had deliberately violated the order. A case of contempt has been made out as he had wilfully disobeyed the order of the Supreme Court the banks also alleged.
In another development the Supreme Court agreed to give the debt recovery tribunal more time to complete the hearing in the Mallya loan default case. Since the proceedings had not been completed in the stipulated time, an application was filed seeking an extension.