The Supreme Court on Tuesday asked former liquor baron Vijay Mallya to furnish details of his foreign assets, reported PTI. The bench of justices Kurian Joseph and Rohinton Nariman asked him to file an affidavit within four weeks, disclosing what he did with the $40 million (Rs 266 crore approximately) that Diageo Plc had paid him for his shares in United Breweries. The court will take up the matter again on November 24.

Attorney General Mukul Rohatgi, who represented the consortium of banks to which Mallya owes money, asked the top court to issue summons against the businessman for misleading the court, reported India Today. "Every entry in his statement of assets is done with the purpose to deceive. Persistence of his defence makes his offence more grave," said Rohatgi. The court was hearing the plea filed by a consortium of 17 banks that accused Mallya of defaulting on loans amounting to around Rs 9,000 crore.

However, Mallya's counsel told the top court that the $40 million was not paid to him in cash and said it was spent to make payments and used for other business requirements. His counsel also refuted charges of contempt of court and assured the bench that Mallya will furnish the details within the stipulated time.

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The court had issued a similar notice to Mallya on July 25. It had given time four weeks' time to respond to why he has not submitted details of his assets as per its directions. In June, Mallya was declared a proclaimed offender by a special Prevention of Money Laundering Act court in Mumbai. According to Indian law, a proclaimed offender is one who is absconding despite an arrest warrant issued against them. The Enforcement Directorate had moved court to have Mallya declared a proclaimed offender as this is a prerequisite for a red corner notice (an international crime alert) to be issued against him.

Mallya left the country on March 2 and has been in the United Kingdom since then. He had claimed he was in "forced exile" and that he could not return to India.