Karnataka HC issues bailable arrest warrant against Mallya 

28-01-2017
ud

Bengaluru: The Karnataka High Court on Friday issued a bailable arrest warrant against beleaguered liquor baron Vijay Mallya for allegedly violating an undertaking given by him and his companies not to transfer their equity shares in United Breweries Limited (UBL) to British spirits company Diageo Plc.

"We are issuing a bailable arrest warrant against the accused (Vijay Mallya) for violating an undertaking given by him in the case," said Justice Jayant Patel heading a division bench.

The warrant has been issued after Mallya failed to appear before the bench, also comprising Justice Aravind Kumar, on petitions filed by a consortium of banks led by State Bank of India.

The banks have accused Mallya of violating the undertaking given by him and his companies, including the now defunct Kingfisher Airlines, not to transfer their equity shares in UBL after the Debt Recovery Tribunal (DRT) had restrained Standard Chartered Bank, with which the shares had been pledged, from handing over the same to Diageo Plc.

On December 2 last, Justice Vineet Kothari of the high court had rejected Mallya’s application for recalling its order summoning him for allegedly violating the undertaking.

On October 20 last, Justices Patel and Kumar had summoned Mallya to appear before it on November 24.

Resuming the hearing, counsel for the bankers, Nagananda pleaded that a non-bailable arrest warrant be issued against Mallya for violating the undertaking given to the court.

At this, the bench asked whether the bankers had placed documents submitted before the Supreme Court suggesting the non-residence of Mallya in the country in order to issue non-bailable arrest warrant against the liquor baron.

"Since you (bankers) haven’t placed the Supreme Court documents suggesting Mallya’s non-residence in India, we request you to submit the same before us. After which, the court would decide on issuing non-bailable arrest warrant, which your are pleading for," Justice Patel said.

The division bench posted the matter for next hearing on February 17.

The DRT, in its order last year, had restrained Standard Chartered Bank from transferring to Diageo Plc or anyone else, the equity shares of UBL pledged by Mallya and his son Siddharth with the bank.

 

Write your Comments on this Article

Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Konkanworld.com will not be responsible for any defamatory message posted under this article. Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on Konkanworld.com to provide the IP address and other details of senders of such comments, to the authority concerned upon request. Hence, sending offensive comments using Konkanworld.com will be purely at your own risk, and in no way will Konkanworld.com be held responsible. Similarly, Konkanworld.com reserves the right to edit / block / delete the messages without notice any content received from readers.

  • Konkan World
  • Stay Connected
  • Facebook Google+ Twitter YouTube

KONKAN WORLD offers accurate, up-to-date, a large collection of videos from KONKAN WORLD VIDEOS and indulge in fun you will not find else where!.
© Copyright 2014 Konkanworld media Inc