SC asks Mallya to disclose his foreign assets in a month

October 25, 2016

New Delhi, Oct 25: The Supreme Court today directed beleaguered businessman Vijay Mallya to give complete details of his assets outside India in four weeks, saying it was of the "prima facie view" that he has not made proper disclosure of his assets.

mallya
A bench of Justices Kurian Joseph and R F Nariman also pulled up Mallya for not giving details of USD 40 million which he had received from British firm Diageo on February this year.

"We are prima facie of the view that the report has not made a proper disclosure in respect of our order of April 7, 2016, directing to make complete disclosure of assests and in particular, the receipt of USD 40 million as when it was received and how it has been dealt till date," the bench said.

It also asked Mallya, who had earlier informed the court about his properties in India, to disclose complete details of his assets abroad in four weeks.

The bench posted the matter for further hearing on November 24.

A consortium of banks including SBI had on August 29 told the Supreme Court that Mallya had deliberately not made full disclosure of his assets including the USD 40 million which he received on February 25 from the British firm Diageo.

On July 25, the apex court, after noting the submissions by Attorney General Mukul Rohatgi, had issued notice to Mallya on the banks' plea and asked him to respond.

Rohatgi told the court that Mallya had provided wrong details of his assets in a sealed cover to the apex court.

AG had further alleged that a lot of information had also been concealed, including a cash transaction to the tune of Rs 2500 crore, which amounted to contempt of court.

Rohatgi had said that the liquor baron had also not agreed to deposit "substantial amount" as part of of Rs 9,400 crore loan due on him to establish his bonafide.

Mallya had maintained that the banks had no right over information regarding his overseas movable and immovable assets as he was an NRI since 1988.

Mallya had also claimed that as an NRI, he was not obliged to disclose his overseas assets, and added that his wife and three children, all US citizens, also need not disclose their assets.

The court on April 7 had directed Mallya to disclose by April 21 the total assets owned by him and his family in India and abroad while seeking an indication from him when he would appear before it.

It had asked Mallya, who owes over Rs 9,000 crore to around 17 banks, to deposit a "substantial amount" with it to "prove his bonafide" that he was "serious" about meaningful negotiations and settlement.

Comments

Rikaz
 - 
Tuesday, 25 Oct 2016

Government cant do anything on this fellow....tragedy....looted billions...need to see if SC has the authority to do that....end of the day this looter will be enjoying with every penny....

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coastaldigest.com news network
December 20,2025

Mangaluru, Dec 20: City Police Commissioner Sudheer Kumar Reddy has issued a high-alert warning to vehicle owners regarding a surge in cyber fraud targeting those looking to pay traffic violation fines. Fraudsters are reportedly exploiting recent government discount schemes on traffic penalties to deceive citizens.

The Scam: How Fraudsters Strike

Criminals are using SMS, WhatsApp, and social media to circulate suspicious links and APK files (Android application packages). They claim these apps allow users to pay e-challans at a discount.

•    Device Hacking: Downloading these unauthorized apps gives hackers full access to the victim's smartphone.

•    Financial Theft: Once the phone is compromised, fraudsters intercept OTPs and personal data to drain bank accounts.

•    Phishing Sites: Fake websites mimicking official portals are also being used to harvest banking credentials.

Already, two residents within Mangaluru city limits have reported significant financial losses after falling victim to these fraudulent apps.

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News Network
December 15,2025

Mangaluru, Dec 15: Educational institutions in Mangaluru that rely on the popular Mangala Stadium for their annual sports events are bracing for an inconvenience as the city's key sporting venue is set to close its gates for a significant upgrade. The stadium is expected to be unavailable for approximately two months starting from January 15, 2026.

The closure is necessitated by a proposed overhaul of the stadium's facilities, with a special focus on upgrading the synthetic track. Pradeep Dsouza, Assistant Director of the District of Youth Empowerment and Sports (DYES), Dakshina Kannada, confirmed the development.

"Experts have visited the stadium, conducted a thorough inspection, and have given the go-ahead for a complete makeover," Dsouza stated. "Funds have been allocated for the project, and we are currently awaiting the final green signal from state officials to commence the work. We anticipate that the work will likely begin in the second week of January. Consequently, we have stopped renting out the stadium to colleges and other organizations in preparation for the upgrade."

The timing presents a logistical challenge for colleges, as many schools have already concluded their sports meets.

"Colleges will now be organizing their events and will need to find alternative locations to host their sports meets," Dsouza added. He suggested a few potential venues, including the Dakshina Kannada police ground, University College grounds, Panambur grounds, Swaraj Maidan in Moodbidri, and the Mangalore University sports grounds in Konaje.

However, many institutions note that finding a comparable venue will be difficult. While the DK police ground and University College grounds are closer to the city center, they do not possess the extensive facilities and infrastructure offered by Mangala Stadium.

Dr. P Dayananda Pai - P Satisha Govt First Grade College, Carstreet, is one such institution dependent on the stadium. Principal Jayakar Bhandary expressed hope for a swift completion of the work. "We expect the work to be completed at the earliest. If not, we will be forced to look for other venues to host the sports day for our students," Bhandary said, highlighting the pressing need for the city's main sporting facility.

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News Network
December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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