SC reserves verdict on Mallya’s plea for review of 2017 contempt case order
Live MintNEW DELHI: The Supreme Court on Thursday reserved its verdict on a review petition filed by fugitive businessman Vijay Mallya against the court's 2017 order that held him guilty of contempt of court. On 9 May, 2017, Mallya was convicted for contempt of court for not truthfully disclosing his assets and transferring assets to his family despite court’s order against the transfer. The apex court's 2017 order had come on a plea by a consortium of banks led by the State Bank of India, which had said that Mallya had allegedly transferred $40 million received from British firm Diageo, to his children in "flagrant violation" of various judicial orders. It was dealing with pleas of lending banks seeking contempt action and a direction to Mallya to deposit $40 million received from offshore firm Diageo respectively with the banks.