Business

Vijay Mallya Fails To Show Up In Court Despite Supreme Court Orders

न्यूज़ वर्ल्ड इंडिया | 0
2678
| July 10 , 2017 , 14:58 IST

The Vijay Mallya saga continues as he has failed to appear in court. He has been found guilty in the contempt case and has also disobeyed the orders of the supreme court which had directed him to appear in the supreme court.

Supreme Court had found the former RCB owner Mallya guilty of transferring around 40 million dollars to his children despite the court ordering him not to do so.

State Bank Of India has filed a case against Mallya as he did not give details regarding his wealth in the Indian accounts as well as his offshore accounts and had hidden details from the bank.

Also Read: Major Setback For Vijay Mallya As Tribunal Bars His Access To $75 Mn From Diageo deal

Mallya was supposed to appear in front of the court on Monday which he has failed to do so which will lead to contempt of court and he can be fined up to Rs 2000, six months in jail or both.

The banks have said that he has transferred money to his children Tanya, Leanna and Sidharth Mallya despite the Karnataka Court Ordering him not to do so.

The banks had on August 29 last year told the Supreme Court that Mallya had deliberately not made full disclosure of his assets including the USD 40 million he received on February 25 from Diageo.

A Bench of Justice Adarsh Kumar Goel and Justice Uday Umesh Lalit adjourned the matter to July 14, as counsel appearing for Mallya told the bench that they have no instructions.