 "Consortium of 17 banks files contempt application against Mallya")
A contempt application was filed by a consortium of 17 banks in the Karnataka High Court on Tuesday against liquor baron Vijay Mallya, his grounded airline Kingfisher Airlines and United Breweries Holdings Limited for allegedly violating an undertaking given to the Debt Recovery Tribunal that they would not alienate unencumbered assets nor deal with them.
As the application came up for hearing before the High Court, Chinappa submitted before Justice N K Patil that an undertaking was given before the DRT that neither would the unencumbered assets be alienated nor dealt with but Mallya went ahead and created pledges in violation.
As the application came up for hearing before the High Court, Chinappa submitted before Justice N K Patil that an undertaking was given before the DRT that neither would the unencumbered assets be alienated nor dealt with but Mallya went ahead and created pledges in violation.