SC Announces Vijay Mallya Guilty Of Contempt Of Court, Summons Him On July 10

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| May 9 , 2017 , 10:55 IST
[caption id="attachment_174867" align="aligncenter" width="700"]Supreme Court Issues Notice To Vijay Mallya For Not Disclosing His Assets SC Announces Vijay Mallya Guilty Of Contempt Of Court, Summons Him On July 10[/caption] The Supreme Court on Tuesday found absconding liquor baron Vijay Mallya guilty of contempt of court and has summoned him on July 10. The Consortium of Banks had moved the apex court seeking the contempt of court proceedings when Mallya received $40 million from a British firm in February 2016 but instead of paying off any of his debts, he transferred the money to his children. ALSO READ: Timeline Of Turbulance: Vijay Mallya, His Loan Fiascos And Ruin Of Kingfisher Airlines Attorney General Mukul Rohtagi told the Supreme Court that the money transfer was a flagrant violation of various judicial orders including those passed by the Debt Recovery Tribunal. Currently in London, Mallya owes a consortium of banks over Rs 9,000 crores for his now defunct Kingfisher Airlines. Repeated efforts to extradite him have failed. Mallya has alleged that the demands for his extradition are politically motivated.