Indian tycoon Vijay Mallya guilty of disobeying top court
Headline Legal News
India's top court on Tuesday found wanted tycoon Vijay Mallya guilty of disobeying its order barring him from transferring $40 million to his children.
Mallya, who fled to London last year, is wanted in India on charges of money laundering and bank demands that he pay back more than a billion dollars in loans extended to his now-defunct airline. India has been seeking his extradition over the charges, which Mallya denies.
The Supreme Court in its ruling Tuesday acted on a plea by Indian banks, who said Mallya received $40 million from the British firm Diageo and transferred it to his son and two daughters illegally. The court asked Mallya to appear before it in July to decide the punishment.
Mallya was famous for his flashy lifestyle and lavish parties attended by fashion models and Bollywood stars. He was once hailed as India's version of British tycoon Richard Branson for his investments in a brewing and liquor company, an airline, a Formula One team and an Indian Premier League cricket club.
He ran into trouble when he failed to return millions of dollars of loans and left India last year amid attempts by a group of banks to recover the money.
India's External Affairs Ministry says Britain is still considering its request to issue a warrant for Mallya and to extradite him.
Related listings
-
Top Kansas Court to Revisit Death Penalty in Wichita Murders
Headline Legal News 05/04/2017The Kansas Supreme Court is considering for a second time whether to spare two brothers from being executed for four murders in what became known as "the Wichita massacre" after earlier rulings in the men's favor sparked a political backlash. The jus...
-
Conservatives fault Arkansas court for halting executions
Headline Legal News 04/28/2017Arkansas' attempt to carry out its first execution in nearly 12 years wasn't thwarted by the type of liberal activist judge Republicans regularly bemoan here, but instead by a state Supreme Court that's been the focus of expensive campaigns by conser...
-
Court blocks planned executions, prompting state challenge
Headline Legal News 04/25/2017On the eve of what Arkansas officials hoped will be the state's first executions in more than a decade, they faced off with death-row inmates in multiple legal battles over whether these lethal injections would take place as scheduled. At the heart o...
Chicago Business Fraud Attorney
Business Fraud can take many forms. In the broadest terms, a fraud occurs when someone intentionally deceives others for personal gain. Many times business fraud is harmful and recovery is necessary. Losing your personal or business’s assets can devastate your entire life. Contact Roth Law Groupto receive help on restoring your business to normalcy before you were victimized with fraud. Business fraud cases can involve multiple people and complicated schemes aimed at deceiving the public, auditors, investigators, or others. Whether you are dealing with corporate fraud or commercial fraud, we can step in and fight back to receive compensation that you deserve.
At Roth Law Group we are devoted to prosecuting and defending the legal rights of individuals and small businesses, as either plaintiff or defendant. Proving fraud can be extremely difficult. To have a successful business fraud case, one must prove that the defendant purposefully set out to defraud the victim. Fraud cases are being investigated more aggressively than ever. With increasing federal regulation and scrutiny of corporate practises, many individuals and businesses find themselves the subject of business fraud investigations.