Home Business SC Rules Against Mallya in Insolvency Case

SC Rules Against Mallya in Insolvency Case

9
0
SHARE
Vijay Mallya. (File Photo: IANS) by .
Vijay Mallya. (File Photo)

Solicitor General Tushar Mehta appearing for the Centre contended before the SC bench that Mallya was using pendency of the matter before the top court to avoid judgement in insolvency proceedings before a London court. Mallya had said proposal to pay back money was pending…reports Asian Lite News

The Supreme Court of India. (File Photo: IANS) by .
The Supreme Court of India. (File Photo: IANS)

The Supreme Court on Monday said Vijay Mallya cannot use the pendency of his petition in the top court offering to settle his dues, to stall insolvency proceedings initiated by SBI against the fugitive businessman in the United Kingdom.

Solicitor General Tushar Mehta appearing for the Centre contended before a bench headed headed by Chief Justice S.A. Bobde and comprising Justices B.R. Gavai and Surya Kant that Mallya was using pendency of the matter before the top court to avoid judgement in insolvency proceedings before a London court. Mallya had said proposal to pay back money was pending.

Mehta told the apex court that since 2013 Mallya has been hanging a carrot before SBI consortium. The SBI had filed for insolvency in UK court. Mallya in the submission before the UK court had asked it to hold as settlement proposal is pending in Supreme Court in India.

The court clarified that pendency in the apex court cannot become a ground for holding up any case anywhere in the world.

Leave your opinion

avatar
  Subscribe  
Notify of