The Karnataka High Court on Monday directed Vijay Mallya, Chairman and Managing Director of UB (Holding) Ltd., to personally appear with his passport before it on Tuesday as the company has failed to adhere to a direction issued by the court earlier.
Justice Ram Mohan Reddy passed the order on noticing that the UBHL had submitted a certificate of auditors instead of submitting audited statement of accounts as directed by the court earlier.
The court on May 24 had directed the UBHL to submit audited statements of accounts over the repayment, expenses and tax paid on transaction related to sale of United Spirit Ltd.’s shares, held by the UBHL, to Diageo Ltd.
The court had given this direction while permitting the UBHL, which is the promoter of Kingfisher Airlines Ltd., to sell certain shares.
