Today is the day when wilful defaulter Vijay Mallya should disclose his wealth before the Supreme Court.
The court on 7 April had directed Mallya, who is facing legal proceedings for alleged default of loans worth over Rs 9,000 crore from various banks, to disclose all the assets he owns not only in India but abroad too by today.
According to estimates, Mallya has a net worth of Rs 7,000 crore in India as of now.
In 2011, Mallya had a net worth of $1.1 billion, according to Forbes. He dropped out in 2012 as the net worth nose dived to around $800 million.
No exact details of his wealth abroad are yet officially known but there are estimates on that too.
According to a report in the Mint newspaper, the liquor baron owns several marquee real estate properties across the globe, including Trump Plaza condo that was bought for $2.4 million in September 2010. The other key properties are these: a house in Sausalito, Califronia, which was bought for $1.2 million in 1987; a Cape Town mansion bought for $8.4 million in 2010; and The Grand Garden in France bought in 2008 for $53-61 million (read the entire article here).
For the record, Attorney general Mukul Rohatgi on 10 March had told Supreme Court while informing the business tycoon left the country on 2 March, that Mallya's assets abroad are far in excess of the loans taken by him.
The directive to disclose the assets was given by the Supreme Court bench, comprising Justices Kurian Joseph and R F Nariman, after a consortium of banks led by State Bank of India "unanimously rejected" a proposal by the baron to pay Rs 4,000 crore by September to settle his loan dues.
The banks had argued that Mallya should be personally present in the court for any settlement. The bench agreed with this contention as this the only way he can show he was indeed serious about settling his dues.
The next hearing in the matter is on April 26.
But the question will we come to know of his exact net worth today?
With inputs from PTI
Published Date: Apr 21, 2016 11:56 AM | Updated Date: Apr 21, 2016 11:56 AM