- The fugitive billionaire Vijay Mallya has been ordered by the Supreme Court to report to prison for the four months that he has been sentenced to serve for contempt of court.
- Mallya received a 4 month prison sentence and a Rs 2000 fine for deliberate defiance of court orders, according to an order issued today by a bench chaired by Justice UU Lalit.
- The fine must be paid in full within four weeks and must be put in the court's registry before being turned over to the Supreme Court Legal Services Committee.
- If the fine is not paid in the allotted period, the offender will receive an additional two-month imprisonment.
- In addition to the aforementioned, the Court ordered the Union Government to arrange for Mallya's presence during the sentencing process.
- He was found guilty in 2017 for violating court orders when he transferred $40 million to his children, according to a case brought by a group of banks led by the State Bank of India.
- Mallya is currently in the UK and is a defendant in a bank loan default action involving his collapsed Kingfisher Airlines and about Rs 9,000 crore.
- The Union of India had informed the Court during the sentencing hearing that although Mallya's extradition from the United Kingdom had been authorised, he could not be transferred to India due to certain "secret" processes ongoing there.
- Mallya did not appear in front of the court during the sentence hearing, according to the court, which handed down the sentence today.
- It also stated that he showed no remorse for his actions. The Court also stated 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 accessible 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.
- If the money is not deposited, the recovery officer must take the proper legal action to recover it, and the Government of India and its agencies must assist and cooperate fully.
- It has been determined that Mallya's transfer of $40 million to beneficiaries in defiance of court orders is "invalid and inoperative."
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