The Supreme Court has held businessman Vijay Mallya guilty of contempt of court for transferring 40 million dollars to his children in violation of the court’s order. The court today directed Mallya, who is presently in the United Kingdom, to appear before it on the 10th of July to argue on the quantum of punishment.
The apex court passed the orders after a consortium of banks moved the contempt petition against Mallya. It said, Mallya had allegedly transferred 40 million dollars which he had received from British firm Diageo, to his children in flagrant violation of various judicial orders.
