Liquor baron Vijay Mallya, in a statement on his India assets, has disclosed to the Supreme Court that he had Rs. 16,440 as cash in hand as of March 31, 2016. His bank deposits in India totalled Rs. 12.6 crore, which was under attachment by the Income Tax Department, it noted.
Mallya also stated he had “investments and cash equivalents” of $5.2 million in overseas assets while he made no reference regarding any bank account or cash in hand.
Mallya’s Kingfisher Airlines, which ceased operations in October 2012, owed the banks – mostly state-run – over Rs. 9,000 crore including interest and fees.