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Vijay Mallya sentenced four months imprisonment for contempt of court along with the order of depositing 40 million US Dollars: SC

Vijay Mallya sentenced four months imprisonment for contempt of court along with the order of depositing 40 million US Dollars: SC

Vijay Mallya, a fugitive liquor baron, was given a four-month prison term and a 2000 rupee fine by the Supreme Court on Monday for contempt of court.Beside the orders passed in a case filed by a consortium of banks led by the State Bank of India, Vijay Mallya was found guilty of transferring USD 40 million to his children, son Siddharth Mallya and daughters Leanna Mallya and Tanya Mallya, in the year 2017. The judge noted that Mallya did not come before the court and did not exhibit any regret for his actions as the punishment was being delivered. Although the court postponed the penalty hearing a few times to give Mallya a chance to show up, it ultimately made the decision to move through without him. The Court also said that a sufficient sentence must be given to him in order to “uphold the majesty of law” and that it is necessary to issue instructions in order to guarantee that the money in question is available for the implementation of the orders. Mallya has been ordered by the court to pay $40,000,000 with 8% interest with the relevant recovery officer within 4 weeks; otherwise, attachment procedures would be started against his properties.

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