The UB Group chair is accused in a bank loan default case estimated at over Rs 9,000 crore involving his now-defunct Kingfisher Airlines.
Beyond the case, the decision also has demonstrative effect for sternly dealing with other big-ticket defaults, two senior officials with large banks said in a first-cut assessment
The Supreme Court has awarded a four-month sentence to the grounded airline's flamboyant owner Vijay Mallya in a contempt case
Supreme Court penalises Vijay Mallya for disobeying its orders related to 2016 petition filed by SBI-led lenders' consortium
In reply to Lok Sabha in 2020, SP Shukla said 72 Indians charged with financial irregularities have been living abroad. The list includes names like Nirav Modi, Mehul Choksi and Lalit Modi
Fugitive businessman's properties will be launched if he fails to make the payment
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Mallya, who is in the United Kingdom since March 2016, was found guilty of contempt of court for transferring $40 million to his children, in a case filed by the State Bank of India
The Supreme Court in February granted the last opportunity of two weeks to Mallya to personally present or through counsel in the contempt case against him
At a case management hearing at the Chancery Division of the High Court in London on Monday, Justice Tom Leech concluded that a set of interlinked hearings in the matter would be heard together.
USL will retain McDowell's and Director's Special whiskey as it gives up labels like White-Mischief vodka and Honey Bee brandy.
'We don't welcome people who want to use our legal system to evade the law here in India,' the British Prime Minister asserted
The government on Tuesday said assets worth Rs 19,111.20 crore relating to fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, have been attached so far.
It even permitted the counsel, who was earlier representing Mallya, to file written submissions, if any, in the case by Tuesday
The Supreme Court adjourned till Thursday hearing on a plea related to the appearance of fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore
The top court had held Mallya guilty of contempt of court for transferring USD 40 million to his children in violation of the court's order and sought his presence before it on various occasions
These figures were mentioned in the note submitted by Tushar Mehta in the SC, which is hearing arguments on a batch of petitions concerning the interpretation of certain provisions of PMLA
Solicitor General Tushar Mehta informed the Supreme Court that Rs 18,000 crore have been returned to the banks in the case of Vijay Mallya, Nirav Modi, and Mehul Choksi.
Justice Bhat said this cannot become a gateway for courts of first instance to adopt this method, and it has to be specifically mentioned that circumstances in the present case were extraordinary
A bench of Justices U.U. Lalit and S. Ravindra Bhat said the court has found Mallya guilty of contempt and punishment has to be imposed