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Vijay Mallya guilty of contempt of court: Supreme Court

LiveMint logoLiveMint 09-05-2017 Apurva Vishwanath

New Delhi: The Supreme Court on Tuesday held UB Group chairman Vijay Mallya guilty of contempt of court.

“We give him an opportunity to be present in court personally while deciding on quantum of punishment,” a bench comprising justices A.K. Goel and U.U. Lalit said. On 10 July, the court will deliberate on awarding a sentence to Mallya.

Contempt of court is an offence punishable with a maximum imprisonment of six months or a fine up to Rs2,000 or both.

State Bank of India, which is leading a consortium of banks seeking to recover more than Rs9,000 crore from his grounded Kingfisher Airlines Ltd, had moved a contempt plea against Mallya in July 2016.

The banks had argued that Mallya had woefully disobeyed the orders of the apex court by making “vague and unclear disclosure of his assets” and for not appearing before the apex court.

The apex court directed Mallya twice—in April and October 2016—to disclose all assets held by him and his family, after banks spurned his offer to repay Rs4,000 crore to settle the debts of Kingfisher Airlines.

Mallya left for London on 2 March 2016, days before banks moved the apex court.

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