New Delhi, May 9: Few hours after the Supreme Court held UB Group chairman and liquor barron Vijay Mallya guilty of contempt of court, the Enforcement Directorate (ED) seized Mallya’s fixed deposit worth Rs 10 crore. It has also been reported that some of his farmhouses and flats have also been sealed in connection with its money laundering case against him and his associates.
Today, a bench of Justices AK Goel and UU Lalit held him guilty and directed him to appear before the apex court on July 10 in person. It is when the court would decide the punishment to be awarded to him. “We give him an opportunity to be present in court personally while deciding on quantum of punishment,” justices A.K. Goel and U.U. Lalit said.
Vijay Mallya is currently in United Kingdom. India had recently asked Britain to ensure early extradition of Mallya. The order was passed after the State Bank of India (SBI), which is leading a group of banks seeking to recover over Rs 9,000 crore from Mallya’s Kingfisher Airlines which it owned to them, had moved a contempt plea in July 2016. Mallya had then managed to flee the country just days before the Supreme Court took up the case against him. (Also Read: Vijay Mallya guilty of contempt of court, SC directs him to appear on July 10)
Pledging to bring back the 40 million dollars, the Attorney General Mukul Rohatgi said, “He has taken court for ride and we are taking action to bring him back. He has not made a honest disclosure regarding $40 million. We don’t know how to get back the money but majesty of court is very important and he must abide by court’s order.”
The court had then asked the Attorney General on how the order it passed would be executed if Vijay Mallya was in the UK. The apex court had asked Rohatgi to provide modalities for the order to be implemented.
Mallya’s counsel senior advocate C S Vaidyanathan had then spoken strongly against the order saying that Mallya was unnecessarily being targeted by the Indian government despite attacking properties worth Rs 10,000 crore. “There is no violation of court’s order as I was asked to give details of my assets and I provided all the information about assets I was holding on that day. I was not asked to provide all transaction so details about transferring on $40 million was not there. It is shocking that SC is trying to proceed against him. He is being targeted after his business model has failed and he is made poster boy of default when many other people have defaulted. in refunding the loan,” he said.