​​​
  1. Vijay Mallya default case adjourned after Supreme Court bench switched; cause to be verified

Vijay Mallya default case adjourned after Supreme Court bench switched; cause to be verified

The Supreme Court on Monday adjourned the hearing in liquor baron Vijay Mallya’s loan default case to Friday (March 3).

By: | Published: February 28, 2017 6:16 AM
Vijay mallya, Vijay mallya news, Vijay mallya london, kingfisher airlines, kingfisher news, C S Vaidyanathan, NBW, Supreme Court The Supreme Court on Monday adjourned the hearing in liquor baron Vijay Mallya’s loan default case to Friday (March 3). (Source: Reuters)

The Supreme Court on Monday adjourned the hearing in liquor baron Vijay Mallya’s loan default case to Friday (March 3) after his lawyer C S Vaidyanathan sought the matter to be heard by the original bench comprising justices Kurien Joseph and R Nariman. The bench comprising justices Adarsh Kumar Goel and UU Lalit said it would verify how the case filed against Mallya by a consortium of 17 banks led by the SBI was listed before it when another SC bench was already hearing it. “There is a system of listing. It cannot be listed like this. There must be some order from the Chief Justice to list before us or the judges themselves must have directed so. We will verify it and tell you,” the bench said.

Earlier, the Justice Joseph-led bench had asked Mallya to file his response on charges that he had allegedly transferred $40 million, which he had received towards the $75-million payout package with Diageo in February last year, to his children in “flagrant violation” of various judicial orders. Mallya had in November told the court that he had transferred the amount to his three children through gift settlements within two days of receiving it.

You might also want to see this:

The consortium is seeking recovery of over R9,000-crore dues from the now-defunct Kingfisher Airlines. Mallya, who has pegged domestic assets at R2,014.60 crore and overseas assets worth R780 crore, has been living in the UK since March 2016.

Earlier this month, a special court issued an NBW against Mallya in the R1,300-crore loan default case, raising hopes of his extradition from the UK.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top