#SupremeCourt to Pronounce Quantum of Sentence For #VijayMallya in Contempt Case


New Delhi, July 14: The Supreme Court will today pronounce the quantum of sentence for absconding businessman Vijay Mallya in the contempt of court case. The beleaguered liquor baron had been ordered by the apex court to appear in person on July 10. After he failed to show up, the court had set July 14 for the hearing in the contempt case.

According to ANI, the court was hearing the plea of the consortium of banks which alleged that Mallya transferred USD 40 million he received as a loan from a British firm to his children instead of paying his dues. The absconding former Rajya Sabha member was arrested by the British authorities over fraud. The Indian government is trying to bring him back and had begun the complex extradition process. Mallya is out on bail.

Vijay Mallya has defaulted on loans worth a whopping Rs 9,000 crore. He got these loans from a number of banks. When the banks took action, he absconded to London. Apart from the loan default, he also has a money laundering case against him. (Also read: Mallya fails to appear in SC)

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