Mallya's plea on Aug 20 on transfer of US$40 million to his children

KT NEWS SERVICE. Dated: 8/7/2020 10:56:28 AM

NEW DELHI, Aug 6: The review petition of fugitive businessman and former MP Vijay Mallya (64) on being held guilty of contempt of court in 2017 for transferring US $40 million to his children will be heard by the Supreme Court on August 20.
It, in fact, came up on Thursday for hearing through video-conferencing before a Bench of Justices U U Lalit and Ashok Bhushan, but it was adjourned for want of a document not available on record.
In June, the Court had pulled up its registry and asked why Mallya's review petition was not listed before the concerned court for the last three years, seeking names of the officials who were to deal with the file of the review petitions in the last three years.
An accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines and presently hiding in the United Kingdom, Mallya has challenged the Supreme Court's contempt order on May 9, 2017.
The court order had come on a plea by consortium of banks led by the State Bank of India (SBI), that Mallya had allegedly transferred USD 40 million received from British firm Diageo, to his children in “flagrant violation” of various judicial orders. It was dealing with pleas of lending banks seeking contempt action and a direction to Mallya to deposit USD 40 million received from offshore firm Diageo.
The banks had then alleged that Mallya concealed the facts and diverted the money to his son Siddharth Mallya and daughters Leanna Mallya and Tanya Mallya in “flagrant violation” of the orders passed by the Karnataka High Court.
Mallya has been based in the UK since March 2016 and remains on bail on an extradition warrant executed three years ago by Scotland Yard on April 18, 2017. In a major legal setback to him, Mallya lost his application for leave of appeal against his extradition to India in the UK Supreme Court, setting a 28-day clock on his removal from the UK. He is charged with alleged fraud and money laundering relating to uncovered loans of now defunct Kingfisher Airlines.



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