The bench in its order stated that if the fugitive businessman fails to appear personally or through counsel before the court then it will take the case to a 'logical conclusion'.
SC bench sets 18 January 2022 as date to hear arguments on quantum of punishment. Says Vijay Mallya will be at liberty to appear, or his lawyer can advance submissions on his behalf.
ED had earlier transferred Mallya-owned UBL shares worth about Rs 6,624 crore to the SBI-led consortium on directions of a special PMLA court that is hearing his case in Mumbai.
According to the Enforcement Directorate, after the sale of attached shares worth over Rs 5,800 crore Wednesday, the total value of recovery has reached Rs 9,041.5 crore.
The high court judgment will help the banks led by SBI to move a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines.
British High Commissioner to India Alex Ellis also informed that the UK home secretary has done everything from the executive's point of view in the Vijay Mallya case.
Solicitor General Tushar Mehta said the Indian govt is trying its best but status remains the same and there is a further legal issue that needs to be resolved in UK.
Mallya had filed a renewed application to appeal against UK court orders in the case from last year, which had allowed for an adjournment of bankruptcy proceedings.
ED said the action was undertaken by French authorities on its request and the agency found a large sum was remitted abroad from the bank account of Kingfisher Airlines for the asset.
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
Billed as the military’s own version of Raisina Dialogue, the event will spotlight on tech-driven warfighting, lessons from Operation Sindoor and release of three new doctrines.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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