Apex Court Orders Vijay Mallya To Appear Before It On July 10
New Delhi: The liquor baron Vijay Mallya who has been evading the courts for quite some time has been found guilty for contempt of court by the Supreme Court on Tuesday and was directed to appear in the court on 10 July for arguing on the quantum of punishment in the matter.
The businessman, who owes Rs. 9000 crores to Indian banks, has been living in London for the last year.A� The Indian government is putting pressure on the UK government for his extradition. Mallya who was facing money laundering allegations, fled to the UK in March last year, expecting his likely arrest.
The court which has asked the liquor baron on March 9 if he had really disclosed his assets before court or not.A� The present order pertains to his disclosure of assets in the court.
The court questioned Mallya if he is really truthful after the consortium of banks led by State Bank of India alleged that 40 million dollars were transferred by him to his three children in violation of the Karnataka High Court order.
The Attorney General Mukul Rohatgi who appeared for the banks then alleged that Mallya had not disclosed about the 40 million dollars he received from the United Kingdom based company.
The bench comprisingA� Justices A K Goel and U U Lalit took note of the allegation and wanted to know if he by transferring that amount to his children, has violated the Karnataka High Court order or not.
The Karnataka High Court passed a restraining order earlier against Mallya from transferring or alienating any movable and immovable assets to any third party.
Mallya had received the above-mentioned amount as part of the 75 million deal he made after he resigned as chairman of United Spirits in February last year. This was transferred to his children who are US citizens and disclosed this in an affidavit before the court in November last year.
However, Rohatgi argued that Mallya had not disclosed the fund he received and transferred in the assets he disclosed before the court.