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Update : Supreme Court Holds Mallya Guilty of Contempt

MUMBAI, INIDA NOVEMBER 15: Vijay Mallya, Chairman of Kingfisher Airlines at press conference to announce the results at Regency Ballroom, Hyatt Regency, Andheri (E) on November 15, 2011 in Mumbai, India. (Photo by S Kumar/Mint via Getty Images)

NEW DELHI : The Supreme Court on Tuesday held beleaguered liquor baron Vijay Mallya guilty of contempt on plea by consortium of banks.
The court asked Mallya to appear before it on July 10.
A bench of Justice Adarsh Kumar Goel and Justice Uday Umesh Lalit gave Mallya an opportunity to present his case on July 10, when the case will next be heard. 
The court order came on a petition by a consortium of 13 banks led by State Bank of India seeking the recovery of more than Rs 6,000 crore that they had given to now grounded Kingfisher Airlines.
The conviction was on the basis a contempt on plea filed by the consortium of banks.

By TIS Staffer
the authorBy TIS Staffer

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