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Hyderabad Court Convicts Vijay Mallya
By: Tupaki Desk | 21 April 2016 5:53 AM GMT
Liquor King Vijay Mallya convicted by a Hyderabad court in a cheque bounce case. The case was filed against Mallya by GMR Hyderabad International Airport Ltd (GHIAL).The court has also issued a non-bailable warrant against him and it will pronounce the quantum of sentence on May 5 th.
Two cases pertaining to cheque-bouncing were going on against Kingfisher Airlines in the court and the matter was posted for argument. After hearing arguments The 14th Additional Chief Metropolitan Magistrate convicted the industrialist under section 138 of Negotiable Instruments Act.
Court convicted Mallya and chief financial officer A Raghunathan after two cheques issued by them, worth a total of Rs 50 lakhs, bounced. The airport officials had filed 11 cases against Kingfisher for non-payment of dues to the tune of Rs.8 crore. The liquor baron is currently in Britain and he is also facing loan default and money laundering cases.
Two cases pertaining to cheque-bouncing were going on against Kingfisher Airlines in the court and the matter was posted for argument. After hearing arguments The 14th Additional Chief Metropolitan Magistrate convicted the industrialist under section 138 of Negotiable Instruments Act.
Court convicted Mallya and chief financial officer A Raghunathan after two cheques issued by them, worth a total of Rs 50 lakhs, bounced. The airport officials had filed 11 cases against Kingfisher for non-payment of dues to the tune of Rs.8 crore. The liquor baron is currently in Britain and he is also facing loan default and money laundering cases.
