SC convicts Vijay Mallya for contempt of court; summons him to appear on July 10

The Supreme Court on Tuesday convicted beleaguered businessman Vijay Mallya for contempt of court and summoned him to appear on July 10. 

The conviction was on the basis of a contempt on plea filed by the consortium of banks.

Mallya, who is still in London, where he fled to in March last year, has been convicted of parting with his property in violation of the court's order. He has been summoned on July 10 for arguing on quantum of punishment in the matter, PTI said in a news alert. 

A bench of justices AK Goel and UU Lalu held Vijay Mallya guilty of contempt of court after he failed to give his asset details. The quantum of punishment will be decided after Mallya is heard on July 10. 

Mallya owes a consortium of 17 banks led by the State Bank of India, the lenders of Kingfisher Airlines, about Rs 9,000 crore. 

Recently, extradition proceedings to bring Mallya back to India were initiated in the UK.