SC to pronounce punishment against Vijay Mallya on Monday in contempt case
Premium- Supreme Court to declare punishment for fugitive liquor baron Vijay Mallya on Monday in 2017 contempt case
Supreme Court will declare its verdict against liquor baron Vijay Mallya on Monday in the 2017 contempt case.
In 2017, the SC held Mallya guilty of contempt of court for withholding information about transferring USD 40 million to his children, violating the court's order. Mallya is wanted in India on fraud and money laundering charges
Meanwhile, Vijay Mallya, who is based in Britain for over five years, is pursuing appeals in the UK courts in an attempt to overturn a bankruptcy order imposed on him by the High Court in London in July last year.
At a case management hearing at the Chancery Division of the High Court in London on Monday, Justice Tom Leech concluded that a set of interlinked hearings in the matter would be heard together.
The case, which involves a consortium of Indian banks led by the State Bank of India (SBI) seeking the repayment of an estimated judgment debt of around GBP 1.05 billion owed by the now-defunct Kingfisher Airlines, is now likely to come up in the courts next year.
The 66-year-old businessman remains on bail in the UK while a “confidential" legal matter believed to be related to an asylum application is resolved in connection with the unrelated extradition proceedings.
Meanwhile, his lawyers have argued that the Indian banks have been pursuing the same debt against him both in India and the UK.