(Hindustan Times) India: The Supreme Court on Monday dismissed review petition filed by former liquor baron Vijay Mallya challenging the order holding him guilty of contempt.
A bench of Justices UU Lalit and Ashok Bhushan said, “We find no merits in review petitions. Review petitions dismissed.”
He was found guilty by the apex court on May 9, 2017 for transferring USD 40 million received from Diageo into the accounts of his children.
Mallya owes over Rs 9,000 crore in form of unpaid loans towards consortium of banks led by SBI. The SBI had filed contempt petition against Mallya for not disclosing the bank accounts into which USD 40 million was transferred. Further, the Court found him guilty of siphoning off this amount which otherwise had to be deposited with the banks.
Mallya had filed review to consider an affidavit claiming this amount was not part of his assets. Further he claimed that he will lose his valuable right of appeal if held guilty by the Supreme Court.