LI NETWORK
Today Supreme Court Bench of Justices UU Lalit and Ashok Bhushan reserved its order on a plea filed by fugitive liquor baron Vijay Mallya seeking a review of its May 2017 order holding him guilty of contempt for transferring $40 million to his children in violation of the court’s order.
The matter had to be adjourned previously since a reply filed by Mallya could not be located in the case records with the Court.
Mallya is an accused in a bank loan default case of over Rs 9,000 crore involving the now-defunct Kingfisher Airlines. The plea in the Apex Court was filed by a consortium of banks.
On May 9, 2017, the Supreme Court had directed the liquor baron to appear before it on July 10, after finding him guilty of contempt of court in a bank loan default case. Soon after this order, Mallya had filed a review petition in the Supreme Court.
When the matter was heard earlier, the banks had alleged that Mallya concealed facts and diverted the money to his son Siddharth Mallya and daughters Leanna and Tanya Mallya in “flagrant violation” of the orders passed by the Karnataka High Court.
Supreme Court reserves its verdict on review petition filed by fugitive Vijay Mallya against his 2018 conviction for contempt of court. Mallya was convicted for not truthfully disclosing his assets & transferring assets to his family.