Setback For Vijay Mallya As Supreme Court To Declare Punishment On Monday

The Supreme Court on Monday will declare the punishment for fugitive liquor baron Vijay Mallya in a 2017 contempt case.

Mallya was convicted of contempt over transferring $40 million to his children in violation of court orders. He was ordered to return over ₹6,200 crores in dues to multiple banks and had been sued for contempt for failing to disclose payment $40 million from British spirit maker Diageo.

In February, Solicitor General Tushar Mehta had told the Supreme Court that the banks had recovered a total of ₹18,000 crores from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi.

The 66-year-old liquor baron is an accused in a bank loan default case involving the now defunct Kingfisher Airlines which is worth more than ₹9,000 crores. Mallya is currently in the United Kingdom.

Mallya is currently pursuing appeals in the UK in an attempt to overturn a bankruptcy order imposed on him by the high court in London in July last year, PTI reported.

At a case management hearing at the Chancery Division of the High Court in London, Justice Tom Leech concluded that a set of interlinked hearings in the matter would be heard together.

The case, which involves a consortium of Indian banks led by the State Bank of India (SBI) seeking the repayment of an estimated judgment debt of around GBP 1.05 billion owed by the now-defunct Kingfisher Airlines, is now likely to come up in the courts next year.