Rules say we need Mallya to appear before Supreme Court: Attorney General
The Supreme Court trial for hearing the banks’ plea against Vijay Mallya concluded with the attorney general, Mukul Rohtagi, appearing for the banks, saying that the businessman has breached court order by not appearing in front of it.
The Attorney General of India Mukul Rohtagi said that the Supreme Court rules require personal appearance of Mallya in court.
The apex court has scheduled the next hearing of the banks' plea for September 27.
Vijay Mallya, is held in contempt of court for not completely disclosing the location of his assets to the consortium of banks. In April, the apex court ordered Mallya to disclose the assets of him and his family, but a later plea filed by the State Bank of India stated that the details disclosed by Mallya were incomplete and vague.
Ex-owner of Kingfisher Airlines, who left India in March is currently living in the UK, owes 17 banks, including the State Bank of India, over Rs. 9,000 crore with interest.
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
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
12:21 PM IST