SC to pronounce sentence against Vijay Mallya in contempt case

New Delhi [India], July 10, (ANI): The Supreme Court will today pronounce sentence against liquor baron Vijay Mallya in the contempt case. In the last hearing, the apex court had convicted him for contempt of court and summoned him to personally appear on July 10. The apex court was hearing a plea by a consortium of banks, who moved the apex court after Mallya received $40 million from British firm Diageo Plc in February 2016 and allegedly transferred the money to his children, instead of repaying loans that he owes to the banks. The absconding businessman was arrested by Scotland Yard last month on fraud allegations, which triggered his extradition process in the British courts. However, Mallya was released on bail as he assured the court to abide by all conditions associated with extradition proceedings, including surrendering his passport. On February 8, India had given a formal extradition request for Mallya through a note verbale. India had given a formal extradition request for Mallya as per the extradition treaty between India and UK through a note verbale, a diplomatic communication. A joint team of the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) had also reached London. Last month, the Ministry of External Affairs (MEA) informed that Mallya's extradition has been stratified by the Secretary of State of the U.K. Government and added that a warrant would soon be released against him. The 61-year-old Mallya, who has been living in Britain since last year, was arrested by the Scotland Yard last month on the extradition request of India. Within hours of his arrest, Mallya, who is accused of cheating and frauds, was released on bail by a London court. The UK's Crown Prosecution Service (CPS) will argue the case on behalf of the Indian authorities. Mallya, whose now-defunct Kingfisher Airlines allegedly owes more than Rs 9,000 crore to various banks, had fled India on March 2, 2016. (ANI)