New Delhi: Supreme Court will pronounce its verdict against liquor baron Vijay Mallya on Monday, July 11 in a 2017 contempt case, according to reports. Mallya was convicted of contempt of court for withholding information about transferring USD 40 million to his children, violating the court’s order.
As per reports, the 66-year-old liquor baron, who is based in Britain for over five years, has been pursuing appeals in the UK courts, in an attempt to overturn a bankruptcy order imposed on him by the High Court in London in last July.
At a case management hearing at the Chancery Division of the High Court in London on Monday, Justice Tom Leech said that a set of interlinked hearings in the matter would be heard together, the reports added.
It is pertinent to mention here that the case involves a consortium of Indian banks led by the State Bank of India (SBI) seeking repayment of an estimated judgment debt of around GBP 1.05 billion that is owed by the now-defunct Kingfisher Airlines, is now likely to come up in the courts next year.
Notably, the 66-year-old businessman is on bail in the UK, while a “confidential” legal matter, believed to be related to an asylum application, is being resolved in connection with the unrelated extradition proceedings, said reports.
