SC holds Vijay Mallya guilty of contempt, orders him to appear on July 10

Mallya who owes around Rs 9,000 crore to a consortium of banks fled from the country in March and has been fighting his case from London itself. File image

NEW DELHI: The Supreme Court on Tuesday held beleaguered liquor baron Vijay Mallya guilty of contempt for transferring USD 40 million to his children in violation of the  court's order. The court asked Mallya to appear before it on July 10. The order came on a plea by consortium of banks led by SBI, which had said that Mallya had allegedly transferred USD 40 million which he had received from British firm Diageo, to his children in "flagrant violation" of various judicial orders. Unpaid loans of over Rs 9,000 crore by Mallya's now defunct Kingfisher airlines made him flee to the UK on March 2 last year. He has been defying court orders even as as the Supreme Court ordered him to appear before it in person with his passport on March 30, 2016. Indian agencies have since made several attempts to bring back the businessman, who faces court warrants. Mallya has said he is living in "forced exile". Mallya who owes around Rs 9,000 crore to a consortium of banks fled from the country in March last year and has been fighting his case from London itself. He was arrested by Scotland Yard police last month but got bail within hours. Sources in the home ministry had said the arrest was the first step towards securing Mallya's extradition, although he would get an opportunity to defend himself and challenge the extradition plea in the district and higher courts in Britain In January this year, a non-bailable warrant issued by CBI court against the beleaguered businessman in the Rs 720-crore IDBI Bank loan default case. BJP government had been facing severe criticism for handling the Mallya case and not being able to stop him from fleeing. PM Narendra Modi last year in a rally said his government has tightened the screws on the bank defaulters “You know how the rich have gobbled up people's money. My government has tightened the screws on the bank defaulters. They are fretting as they will be jailed and in the fear have fled. But I assure you no one will be spared I am telling you. “The money looted from the banks does not belong to the banks but to the poor people of the country and I will ensure that those who looted this money return each and every paise… they have looted the country,” he added. (With inputs from agencies)