The Supreme Court in its verdict on a review plea filed by fugitive businessman Vijay Mallya in a 2017 contempt case has dismissed the plea on Monday. The verdict delivered by a bench comprising justices U U Lalit and Ashok Bhushan came after hearing the arguments in the case last week.
Supreme Court dismisses a plea filed by fugitive businessman Vijay Mallya, seeking a review of its May 2017 order holding him guilty of contempt for transferring USD 40 million to his children, in violation of the court's order pic.twitter.com/JxmEhu1CCq
— ANI (@ANI) August 31, 2020
In 2017 Vijay Mally was held guilty of contempt for transferring USD 40 million received from British firm Diageo to his children in flagrant violation of various judicial orders, after a plea by a consortium of banks led by the State Bank of India was filed in the court.
The bank accused Mallya of concealing the facts and diverting the money to his son Siddharth and daughters Leanna and Tanya and thus violating the orders passed by the Karnataka High Court, which had previously ordered him not to transfer or alienate any movable and immovable assets to any person.
Mallya, who has fled to the United Kingdom after getting involved in a bank loan default case owing Indian banks over 9,000 crores over his now-defunct Kingfisher Airlines is at present fighting extradition from the UK . Mallya has since then repeatedly publicly offered to make good on his debts.
Mallya has repeatedly told the Supreme Court that he has offered a comprehensive settlement package to the banks to settle the matter.
