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SC to hear Vijay Mallya's contempt case today

ANI  |  New Delhi [India] 

The Supreme on Friday is scheduled to pronounce a quantum of sentence against baron and businessman Vijay Mallya in connection with the contempt of case.

In the last hearing, the apex had convicted him for contempt of and summoned him to personally appear on July 10. Subsequently, the hearing was adjourned till July 14.

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

The absconding businessman was arrested by the Yard last month on allegations, which triggered his extradition process in the British courts.

However, Mallya was released on bail as he assured the to abide by all conditions associated with extradition proceedings, including surrendering his passport.

On February 8, had given a formal extradition request for Mallya through a note verbale (verbal note). had given a formal extradition request for Mallya as per the extradition treaty between and UK through a note verbale, a diplomatic communication.

A joint team of the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) had also reached London.

Last month, the Ministry of External Affairs (MEA) informed that the 61-year-old's extradition had been stratified by the Secretary of State of the U.K. Government and added that a warrant would soon be released against him.

The UK's Crown Prosecution Service (CPS) will argue the case on behalf of the Indian authorities.

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

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 14 2017. 08:32 IST
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