Why vijay mallya dragged to court

The lawyer had said that an application for recall of the order has been filed and according to him, no contempt is made out and hence, the plea itself can be considered as the reply. The bench had shot back: "Somebody who is faced with a default of Rs 6, crore and suppose if he gets Rs 3, crore, he should have given it to repay the dues".

In October last year, the court had rapped Mallya for not making full disclosure of his overseas properties and had asked him to do so within a month. Superintendent of Police of West Tripura district Manik Das said the lawyers have been served notices asking them to appear before police by 10 November for questioning. The judge was speaking virtually at the launch of the nationwide legal awareness programme, 'Empowerment of Women through legal awareness' at Varanasi on Saturday.

Mallya's legal team contended that the debt remains disputed and that the ongoing proceedings in India inhibited a bankruptcy order being made in the UK.

It is worth noting that the debt in question comprises principal and interest, plus compound interest at a rate of Mallya has made applications in India to contest the compound interest charge. Last month, the ED transferred attached assets worth Rs 8, An ED statement said that Vijay Mallya, Nirav Modi, and Mehul Choksi have defrauded public sector banks by siphoning off the funds through their companies, which resulted in a total loss of Rs 22, crore to the banks.

Visit www. Follow us on :. But the airline, which was grounded in , lost its flying permit the following year.

It made annual losses for five years in a row and finally collapsed after lenders refused to give it fresh loans.

He is a high-profile figure who has in the past been called "India's Richard Branson" and the "King of Good Times" for his lavish lifestyle. Vijay Mallya: India's most controversial businessman? Mallya resigns as Force India director. India's 'King of Good Times' to learn fate. Energy Power. Services Advertising. Another setback for Vijay Mallya as court rules in favour of united Bank of India.

Aniruddha Ghosh. Rate Story. Font Size Abc Small. Abc Medium. Abc Large. ET Now. A day after being dragged to court by Kingfisher Airlines. State Bank of India. Bank of Baroda. Indian Overseas Bank. Punjab National Bank.