Supreme Court Issues Notice to Vijay Mallya

January 11, 2017 14:58
Supreme Court Issues Notice to Vijay Mallya

The Supreme Court on Wednesday gave a notice to liquor baron Vijay Mallya. The notice is regarding a plea filed by the SBI-led consortium of banks against him for getting more than Rs 9,000 crore from him.

The bench gave him a time of three weeks to respond to the plea. The notice also asked Mallya to deposit 40 million dollars he received from Diageo in the court.

The court also asked an explanation from Mallya as to why he had deposited 40 million US dollar to his son's account violating High Court order.

The bank association had requested the apex court to seek its intervention in bringing back Mallya to India. The bank also wanted Mallya to repay the money with which he absconded to London.

The banks, in their plea, told the apex court that "there was an outstanding loan of almost Rs 9,000 crore against the businessman."

The banks added that "Mallya did not disclose complete details about his assets before the court too including his failure to disclose the severance package he received from Diageo Plc as part of his exit from United Spirits Ltd."

Vijay Mallya: “Banks should not interfere in my abroad business”


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Supreme Court  Notice  Vijay Mallya  bank  money