Vijay Mallya to disclose assets, fly back to India as banks reject settlement offer

Banks have rejected debt-ridden Vijay Mallya’s offer and now the Supreme Court has directed him to make a full disclosure of all assets.

Not only this, the apex court has also sought reply on when Mallya would appear personally in the court after 17 lenders moved the court for the same.

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"There's no liquid money. Everything is tied up in contingencies. We will need court orders to pay," one of Mallya’s lawyers CS Vaidyanathan said.

The next hearing of the case is on April 26.

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Meanwhile, the Enforcement Directorate had also asked Mallya to be present on April 9 regarding a Rs 900-crore loan from IDBI Bank.

The banks are seeking more than Rs 9,000 crore in dues from loans given to Kingfisher Airlines, which is grounded since 2012. Mallya had left India last month for the UK.