Indian business tycoon Vijay Mallya. | PTI File Photo
BENGALURU: In relation to contempt petition filed by a consortium of banks, Karnataka High Court on Friday issued bailable warrant against liquor baron Vijay Mallya, returnable by February 17, to his Bangalore address.
The division bench of Justice Jayant Patel and Justice Aravind Kumar issued the warrant after hearing the contempt plea.
According to the order dated December 2, 2016 of Karnataka High Court, Vijay Mallya had to appear before it on January 19, 2017. Later, he was asked to appear on Friday.
However, he failed to appear. "When the matter is pending before the Debt Recovery Tribunal as well as High Court, Mallya had pledged 1,04,86,666 shares of UB Limited held by him and another 1,04,64,288 shares held by Mallya and his son Siddarth Mallya to Standard Chartered Bank, in violation of his oral undertaking given before debt recovery tribunal. It amounts to contempt of court,” the banks contended in their contempt petition.
