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Respond to banks' plea on USD 40 million transfer:SC to Mallya

Team SoOLEGAL 11 Jan 2017 5:12pm

Respond to banks' plea on USD 40 million transfer:SC to Mallya

Acting on banks' allegations that liquor baron Vijay Mallya had transferred USD 40 million to his children in "flagrant violation" of various judicial orders, the Supreme Court today asked him to file his response on the matter in three weeks.

A bench, comprising justices Kurian Joseph and A M Khanwilkar, asked the beleaguered businessman to file an affidavit and fixed the plea of the consortium of banks led by State Bank of India for further hearing on February 2.

Senior advocate Shyam Divan, appearing for the banks, alleged that orders of Debt Recovery Tribunal and Karnataka High Court have been violated by Mallya by transferring 40 million USD to his children.

It is a matter of record that Mallya and his firm owe over Rs 6,200 core to the banks and the money should have been deposited here, he said.

Senior advocate C S Vaidyanathan, appearing for Mallya, sought time to respond to the banks' plea, which was granted.

 

Source: PTI

Tagged: Vijay Mallya  
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