March 19, 2018

Contempt proceedings against Mallya only when he is produced

15 July 2017, 06:22 | Winifred Adams

Mallya laundered over Rs.1300 crores – ED

Supreme Court to pronounce quantum of sentence against Vijay Mallya today

Mallya who is in the United Kingdom has been arrested briefly by the Scotland Yard and was released soon after after being produced in the court which has asked India to submit all the relevant documents pertaining to the cases fied against him to order extraction to India.

As per ANI, AG Venugopal informed the Supreme Court that the extradition proceedings, regarding the matter, are being conducted in UK Court and would most likely end by December 4.

Mallya has been held guilty by the Supreme Court of contempt of court for not honestly disclosing all his assets and diverting his $40 million to overseas accounts of his family members in violation of the court's order.

Talking to HT, attorney general KK Venugopal said, "Hopefully we should get him back by January 2018". "We want you to produce the contemnor so that that we can sentence him", the court said.

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It had directed Mallya to appear before it on Friday to argue on the quantum of punishment.

The case was being upheld on a plea made by a consortium of lender banks led by the State Bank of India (SBI) after it had contested that Mallya had allegedly transferred at least Dollars 40 million received from Diageo to his children in violation of judicial orders. The Indian authorities had supplied the U.K government with all additional evidence and documents against Mallya with regard to buttressing their case for his extradition.

A consortium of banks led by India's largest lender State Bank of India, in a plea before the top court, had said that the businessman transferred $40 million received from Diageo to his children in violation of various court orders.

India had recently asked Britain to ensure early extradition of Vijay Mallya, an accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines.

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