Latest laws Helping good people to do good things.May,9,2017:
Former Kingfisher boss owes over Rs 9000 crore to the Banks.
In a setback for the absconding tycoon, Vijay Mallya, Supreme Court has held him guilty of contempt of the court for transferring USD 40 million to his children.
Apex Court ordered Mallya to appear before it on July 10 to argue on quantum of punishment in the matter.
Apex Court Bench comprising of Justice AK Goel and Justice U U Lalit expounded that, “We have found respondent number 3 (Mallya) guilty of contempt of the court on two grounds”.
Supreme Court passed orders after a consortium of the banks led by State Bank of India had moved the contempt petition against Mallya.
Former Kingfisher boss owes over Rs 9000 crore to Banks.
In a parallel case, Mallya was earlier arrested and then released on bail after the law enforcement authorities sought his extradition from United Kingdom.
Related News @ LatestLaws.com-
18.4.2017 – Law knocks Vijay Mallya’s door, Arrested in London by Scotland Yard, but gets Bail
9.2.2017 – India finally hands over Vijay Mallya’s extradition request to Britain
20.11.2016 – High Court orders complete Winding up of Vijay Mallya’s Kingfisher Airlines
25.7.2016 – Supreme Court issues Contempt Notice to Vijay Mallya on Bank’s Plea
14.6.2016- Special Court declares Vijay Mallya a Proclaimed Offender, deportation to follow
2.5.2016- Vijay Mallya resigns as MP, castigates Parliament: I will not get a fair Trial or Justice
21.4.2016- First conviction recorded against absconding Businessman & MP Vijay Mallya
16.4.2016- Passport suspended, NBW for Arrest in pipe, Long Arms of Law are surely catching up against Vijay Mallya
30.3.2016- Vijay Mallya blinks before Supreme Court: Offer to pay Rs.4,000 Crore by Sept. 2016, but not coming back soon
21.3.2016- Supreme Court rapped Mallya for ‘sheer abuse of law’ & evading Law Enforcement Agencies
12.3.2016- Taking cue from Mallya episode, SEBI now bars willful Loan defaulters from Market & holding post in Listed Companies
10.3.2016- Even as Banks line up at SC for hearing, Kingfisher Mallya does a vanishing act, flees Country
8.3.2016- 17 Banks join hands in knocking Supreme Court door to stop Vijay Mallya from fleeing country
