 "Vijay Mallya can't cite pending plea to stall insolvency proceedings: SC")
The Supreme Court on Monday said that Vijay Mallya cannot use pendency of his plea in the apex court to stall insolvency proceedings initiated against him in other jurisdictions.
A bench headed by Chief Justice S A Bobde passed the order after the Centre told the top court that Mallya used pendency of his plea to stall the UK court from delivering verdict in insolvency proceedings.
Mallya had approached the apex court on June 27 seeking a stay on the confiscation of properties owned by him and his relatives.
Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) with defaulting on bank loans to the tune of Rs 9,000 crore. He is also facing an extradition trial in the UK.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app