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Contempt of court against Vijay Mallya

The Supreme Court found liquor baron and businessman Vijay Mallya guilty of contempt of court and summoned him to personally appear on July 10th.

The apex court was hearing a plea by a consortium of banks, who moved the apex court after Mallya received $40 million from British firm Diageo Plc in February 2016 and allegedly transferred the money to his children, instead of repaying loans that he owes to the banks.

The absconding businessman was arrested by Scotland Yard last month on fraud allegations, which triggered his extradition process in the British courts. However, Mallya was released on bail as he assured the court to abide by all conditions associated with extradition proceedings, including surrendering his passport.

Mallya, whose now-defunct Kingfisher Airlines allegedly owes more than Rs 9,000 crore to various banks, had fled India on March 2, 2016.

 

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