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National News

Jan 06, 2020
12:41PM

Vijay Mallya cannot use pendency of plea to stall insolvency proceedings against him: SC

@TheVijayMallya
The Supreme Court today ruled that Vijay Mallya cannot use pendency of his plea in the apex court to stall insolvency proceedings initiated against him in other jurisdictions.

A bench headed by Chief Justice S A Bobde passed the order after the Centre told the apex court that Mallya used pendency of his plea to stall the UK court from delivering verdict in insolvency proceedings. Mallya had approached the apex court on June 27 seeking a stay on the confiscation of properties owned by him and his relatives.

Mallya, who is currently in the UK, has been charged by the Enforcement Directorate with defaulting on bank loans to the tune of 9,000 crore rupees. He is also facing an extradition trial in the UK.

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