A consortium of 13 banks have filed a petition seeking recovery of over Rs 6,000 crore that they had given to now grounded Kingfisher Airlines.

Supreme Court holds Vijay Mallya guilty of contemptFile photo: PTI
news Court Tuesday, May 09, 2017 - 12:52

The Supreme Court on Tuesday held beleaguered liquor baron Vijay Mallya guilty of contempt in a case filed by a consortium of 13 banks he owes money to.

A bench of Justice Adarsh Kumar Goel and Justice Uday Umesh Lalit gave Mallya an opportunity to present his case on July 10, when the case will next be heard.

The court order came on a petition by a consortium of 13 banks led by State Bank of India seeking the recovery of more than Rs 6,000 crore that they had given to now grounded Kingfisher Airlines.

Just last week, in the backdrop of Mallya's extradition demand, India and the UK agreed to expedite the process of extraditing "wanted persons".

The decision was made in the first Home Affairs dialogue between the two countries held in New Delhi. The delegations were led by Indian Home Secretary Rajiv Mehrishi and Patsy Wilkinson from the British Home Office.

The meeting was held as a follow up to British Prime Minister Theresa May's visit to India in November and the two Prime Ministers' commitment for enhanced and strengthened dialogue.

"Both sides expressed satisfaction in matters relating to extradition of wanted persons. The process involved in matters of extradition and the need to further improve them were also discussed," Home Ministry advisor Ashok Prasad said. 

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