Guilty of contempt on two counts, Supreme Court tells Vijay Mallya
On April 18, Mallya was arrested for just three hours by Scotland Yard in London and was granted bail by Westminster Court.
Supreme Court on Tuesday held Vijay Mallya guilty of contempt of court on two counts and ordered him to appear before the court on July 10, 2017.
A bench of Justice Adarsh Kumar Goel and Justice Uday Umesh Lalit gave Mallya an opportunity to present his case on July 10, when the case will next be heard.
The order came in after banks filed plea in SC saying that Mallya had "allegedly transferred $40 million which he had received from British firm Diageo, to his children in "flagrant violation" of various judicial orders."
Presently, Mallya is in London and India has been in touch with UK officials to get him back in the country.
ALSO READ: Vijay Mallya gets bail: Here's what happens next
On April 18, Mallya was arrested for just three hours by Scotland Yard in London and was granted bail by Westminster Court.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
SCSS vs FD: Which guaranteed return scheme will give you more quarterly income on Rs 20,00,000 investment?
Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations
Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?
12:00 PM IST