Vijay Mallya. (File Photo: IANS)
"We met today (Tuesday) but it will not be appropriate for me to disclose what transpired in the meeting. Hopefully, the report of the committee will be submitted on Wednesday in the Rajya Sabha," a member of the ethics committee told IANS on condition of anonymity.
However, sources said the committee has recommended Mallya's expulsion.
Sources also said the panel wants Mallya's resignation to be rejected, and his expulsion initiated through due procedure.
After the report is submitted in the upper house, a final decision rests with the Rajya Sabha chairman.
Sources said the chairman has not yet accepted his resignation.
Mallya sent his resignation to Ansari on Monday, a day before the ethics panel was to meet.
He later tweeted: "In all humility and not in defiance as they report, I would like Indian media to check and verify facts before calling me a defaulter."
Another tweet on Tuesday said: "7686 Wilful Defaulters Owe PSU bank Rs.66,190 cr -- easy to blame only Mallya."
Mallya is wanted for defaulting bank loans to the tune of Rs.9,000 crore.
He is an independent member from Karnataka, and his term ends on June 30. This is his second term in the upper house.
According to parliament sources, during his tenure of almost 10 years as member of the Rajya Sabha, Mallya was declaring his assets and liabilities as "nil".
The union government revoked Mallya's passport after he failed to turn up for a probe into the loan default. This set in motion the process for the billionaire's possible deportation from Britain, where he is staying at present.
His case was referred to the ethics panel by the Rajya Sabha chairman, after he fled the country.
