Banks have no right over the information on my assets abroad: Vijay Mallya – Legal News


Banks have no right over the information on my assets abroad: Vijay Mallya

The entrepreneur Vijay Mallya has told the Supreme Court that banks who have initiated the recovery proceedings against him have no right over the information of his overseas assets as he was an NRI since 1988. Mallya said through his legal team that “recent actions of the central government confirm, he has been prosecuted wrongly”.

Mallya had been directed by the Supreme Court to disclose his total assets in India and abroad by April 21, 2016. The court asked Mallya on April 7, a month after he secretly flew to London as to when he would be personally appearing before it.

He claimed that he was an NRI for income tax and foreign exchange regulation purposes since 1988. He also claimed that he and his family members being US citizens are not obliged to disclose his overseas assets.


Father can give property to his married daughter: Supreme Court

The Supreme Court has ruled in a landmark judgment that a man is entitled to nominate his married daughter his cooperative society flat after his death depriving his wife and son.

As per the provisions of the WB Cooperative Societies Act 1983, Biswa Ranjan Sengupta’s wife and son challenged the decision of the managing committee of Purbanchal Housing Estate, Kolkata to transfer ownership of a flat to Indrani Wahi, Sengupta’s married daughter.

A division bench of the HC said Indrani was a part shareholder of the property and she could dispose of the property only with the express consent of other shareholders (Sengupta’s wife and son). Indrani appealed against this judgment in the Supreme Court.

The Apex Court said the cooperative society is bound to transfer all the share or interest of the member in the name of nominee.

Celebrity Criminal Lawyer arrested in Mumbai

A celebrity criminal lawyer Ashok Saraogi who had represented gangster Abu Salem, was arrested on April 17 for alleged exploitation and forged to help a client grab land. The lawyer was sent to jail until April 25, 2016.

The co-accused lawyers Sohel Kazi and I V Y Tauro were also sent to custody for three days. Saraogi was representing the Rahul Raj in the recent suicide case of deceased television actress Pratyusha Banerjee.

Saraogi was arrested after he withdrew an anticipatory bail application – his third to avoid arrest in the case where he is accused of helping businessman Ashish Bagaria and his father Santosh Kumar Bagaria usurp nine parcels of land belonging Ashish’s estranged wife Nickee in Raigad – in the Supreme Court.