The Supreme Court, held businessman and liquor baron Vijay Mallya guilty of contempt of court by a consortium of banks.

Mallya, in violation of the court’s order, transferred USD 40 million to his children. A bench comprising Justices A K Goel and U U Lalit said, “We have found respondent number 3 (Mallya) guilty of contempt of court on two grounds.”

Mallya who is presently in the United Kingdom, has been directed by the apex court to appear before it on July 10, to argue on the quantum of punishment in the matter. The order of the SC came on a plea by a consortium of banks led by SBI. The consortium of banks alleged that Mallya had allegedly transferred USD 40 million which he had received from British firm Diageo, to his children in “flagrant violation” of various judicial orders.

Last month, the Scotland Yard arrested the absconding businessman on fraud allegations, which triggered his extradition process in the UK courts. However, Mallya was released on bail as he assured the court that he will obey by all conditions associated with the extradition proceedings, including surrendering his passport.

Despite the extradition treaty signed in 1992, between India and the UK, only one successful extradition has taken place, i.e. of Samirbhai Vinubhai Patel. Patel was sent back to India in October 2016 to face trial over his involvement in the post-Godhra riots of 2002, says reports. India, through a note verbale, on February 8, gave a formal extradition request for Mallya. The Ministry of External Affairs (MEA), last month informed that Mallya’s extradition has been stratified by the Secretary of State of the U.K. Government and added that a warrant would soon be released against him.

Mallya whose now-defunct Kingfisher Airlines allegedly owes more than Rs 9,000 crore to various banks. The liquor baron had fled India on March 2, 2016.

SUPRAJA