SC holds Vijay Mallya guilty of contempt of court, ordered to appear on July 10

Last Updated : May 09 2017 | 3:06 PM IST

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New Delhi, May 09 (ANI): The Supreme Court on Tuesday held absconding businessman and liquor baron guilty of contempt of court and summoned him to appear before the court on July 10, for arguing on quantum of punishment in this regard. The apex court was hearing a plea by a consortium of banks, which moved the apex court after Mallya received $40 million from a British firm in February 2016 and allegedly transferred the money to his children, instead of repaying loans that he owes to the banks. Mallya, whose now-defunct Kingfisher Airlines allegedly owes more than Rs 9,000 crore to various banks, had fled India on March 2, last year.