Supreme Court sentenced former fugitive liquor baron Vijay Mallya to four months imprisonment for contempt of court and imposed a fine of Rs 2,000.
As per reports, the petition was filed by the State Bank of India (SBI) in a 2017 case, SC held Mallya guilty of contempt of court for transferring $40 million to his children without informing the court in violation of court orders.
SC also asked Vijay Mallya to pay $40 million within two weeks with 8 percent of interest, and if he failed to do so would lead to the attachment of his properties, the Apex court stated in its orders.
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On March 10, the court reserved its order in the matter, observing that proceedings against Mallya have hit a dead wall.
Vijay Mallya has been living in the United Kingdom since March 2016. He is on bail on an extradition warrant executed by Scotland Yard on April 18, 2017.
Mallya, who fled to the UK in 2016 following the charges of bank loan default to the tune of over ₹9,000 crore associated with the collapse of his Kingfisher Airlines in 2012, is an NRI while his children and estranged wife are US citizens. He denies “fleeing” from India and says he made an “unconditional” offer to pay back the sum in full.
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Mallya faces a raft of charges relating to financial irregularities at Kingfisher Airlines. He is also being investigated by the Central Bureau of Investigation and the Enforcement Directorate for alleged financial crimes.
The 2017 verdict had come on a plea by a consortium of creditors led by State Bank of India, which argued that Mallya disobeyed court orders by making “vague and unclear disclosure of his assets” and by transferring a $40 million payment from Diageo to his family members. Mallya’s plea to reconsider the conviction under the contempt charge was also dismissed by the apex court in August 2020.
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