Vijay Mallya files application in Karnataka HC for recalling contempt order in equity shares transfer case

26 November 2016, 07:33 AM
Vijay Mallya (Pic: Getty)
Vijay Mallya (Pic: Getty)

UB Group Chairman Vijay Mallya on Friday filed an application in Karnataka high court for recalling its order summoning him in equity shares transfer case.

Karnataka HC summoned him for allegedly violating an undertaking given by him and his companies for non-transfer of equity shares in United Breweries to Diageo PLC.  After the hearing on Friday, the court adjourned it to December 2.

The banks have charged Mallya of violating undertaking given by him and his companies, including Kingfisher Airlines, not to transfer their equity shares in United Breweries Holdings Limited (UBHL) after Debt Recovery Tribunal (DRT) had restrained Standard Chartered Bank, with which the shares had been pledged, from handing over the same to Diageo Plc.

First Published: Friday, November 25, 2016 11:35 PM
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