Vijay Mallya's case - sc to declare punishment?
The supreme court will pronounce the verdict in the contempt case against businessman Vijay Mallya, who was declared a fugitive on July 11. Mallya was found guilty in 2017 on charges of hiding information from the court. Now in the same case, Justice UU Lalit, Justice ravindra S. The supreme court bench of Bhat (PS Narasimha) and Justice PS narasimha will deliver its decision on Monday.
The order was kept in reserve on march 10, the court is angry
The supreme court bench had completed the hearing in this matter on march 10, but then the bench had kept its decision reserve. The top court noted during the hearing that Mallya is behaving like a 'free man' in the UK and the indian court is not getting any information about the proceedings against Mallya there. The bench had also expressed displeasure over this.
Amicus Curiae had convicted Mallya on two charges
Senior advocate Jaideep Gupta, who was assisting the supreme court Bench as amicus curiae in this case, had held Mallya guilty on two charges- first of not giving correct information about the assets and violating the order given by the karnataka High Court.
The supreme court had said only last year that it has waited too long and can no longer wait for Mallya to be brought to india from Britain. It was only after this that the court decided to hear the sentence against him in the contempt case.
Convicted of transferring $40 billion to his children's names
The top court has held Mallya guilty of contempt of court for transferring an amount of $ 40 billion to his children. This transfer was done despite a stay on the part of the court.
Mallya has suppressed the loans of banks worth Rs 9,000 crore
Vijay Mallya is accused of fraudulently taking loans from banks in the name of the defunct Kingfisher airlines and using that money for other purposes through money laundering. Mallya was owed loans of about Rs 9,000 crore from banks, for which he fled to britain despite being a rajya sabha MP after the case was registered. bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>state bank of india (SBI) owes the maximum debt. indian agencies are trying to extradite Mallya from britain, for which trial is going on in the court there.
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