Friday, 21 July, 2017

Contempt proceedings against Mallya only when he is produced

Mallya laundered over Rs.1300 crores – ED Vijay Mallya used 13 shell companies to launder over Rs 1300 crore, says ED
Marlene Weaver | 15 July, 2017, 06:21

It had directed Mallya to personally appear before the court to face punishment.

As Attorney-General K.K. Venugopal detailed India's extradition request made in February 2017 before the United Kingdom government and the subsequent steps taken, a Bench of Justices A.K. Goel and U.U. Lalit intervened to say that the court does not wish to "oversee" the government's efforts to bring Mallya back.

As per ANI, AG Venugopal informed the Supreme Court that the extradition proceedings, regarding the matter, are being conducted in UK Court and would most likely end by December 4.

The Supreme Court took note of the government's stand and adjourned the hearing on contempt saying "it would proceed further in the case only when Mallya is produced before it".

AR Rahman trolled for his United Kingdom performance, ignites Hindi VS Tamil debate
The Hindi-speaking crowd then walked out of the concert midway accusing that "most of the songs in the concert were in Tamil". The Twitterati was divided over the legendary composer choosing to croon Tamil songs over theBollywood tracks.

He had been asked to present himself before the court to argue the quantum of sentence. The court was hearing contempt proceedings against Mallya filed by a consortium of 17 banks led by SBI which contended that the businessman had not made a truthful disclosure of his assets before the court and he had intentionally kept the court in dark on payment of $40 million which he received in February past year from British liquor major Diageo for stepping down as chairman of United Spirits Limited.

On May 9, the top court had ruled Mallya guilty of contempt after he failed to declare details of his assets, and thus, upheld the plea by a consortium of banks that sought the initiation of recovery proceedings to the tune of Rs 9,000 crores.

Talking to HT, attorney general KK Venugopal said, "Hopefully we should get him back by January 2018".

The agency has made this indictment against Mallya in its charge sheet filed on June 14 in the money laundering case involving a loan of about Rs 900 crore from IDBI-KFA bank.

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