SC to pronounce its verdict on fugitive Vijay Mallya's plea today
The Supreme Court will pronounce its verdict on fugitive businessman Vijay Mallya on Monday. Mallya had filed a plea seeking a review of May 2017 order in which he was held guilty for contempt for transferring USD 40 million to his children in violation of the Court's order.
On May 9, 2017, the Supreme Court had issued its order on a plea by a consortium of banks led by the State Bank of India (SBI), claiming he had allegedly transferred USD 40 million received from British firm Diageo to his children in “flagrant violation” of various judicial orders.
Mallya is an accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines and is presently in the United Kingdom.
This is a developing story...
