The Supreme Court has given troubled conglomerate Sahara a month's time to explain why a receiver should not be appointed to auction off its properties.
Roy was jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog.
A court asked for further investigation into an illegal coalfield allocation case involving Hindalco Industries on Tuesday, rejecting an earlier report from the CBI that said the probe was likely to be closed.
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
The Supreme Court ordered state-run power producer NTPC on Friday not to disconnect power supplies to distribution companies in the capital New Delhi until March 26, averting a potential blackout next week.
The next hearing on Pfizer's plea is slated for March 21
The Supreme Court on Monday gave conglomerate Sahara another three months to come up with a final proposal to raise funds against its assets to secure bail for its founder Subrata Roy, who has been held in a New Delhi jail for more than a year. Sahara has made several failed attempts to raise $1.6 billion in bail money. Roy was jailed after Sahara failed to comply with a court order to refund billions of dollars to investors in a bond programme that was ruled illegal. The Supreme Court last week gave Sahara, a sprawling conglomerate that ranges from property to Formula One motor racing, a final chance to raise funds in order to bail out Roy. On Monday, the country's top court allowed Sahara to sell part of its Aamby Valley township outside Mumbai, which has luxury villas and a golf course, to raise funds.
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