Supreme Court Final Order to Vijay Mallya

Vijay Mallya Given Four Month Jail...!

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The Supreme Court on Monday declared businessman Vijay Mallya to four months of jail for contempt over the transfer of $40 million abroad despite court orders against such transactions.  

The court declared the transfer of the money from the funds received from British firm Diageo, Which had obtained his company United Spirits, to trusts in the name of his children in the US. It ordered Mallya, who is facing proceedings in the UK for handover to India and was sentenced in absence, to bring back the $40 million with an interest of 8% a year to India within four weeks to pay his due to creditors. The Indian government will help the officer in redeeming the amount, the court said.

The court asked the government to secure his attendance to undergo the jail label. It justified the order sentencing him to jail on the floor that he "never showed any deep regret or propose any apology" for transferring the money out of India when he had to pay his creditors. The settlement comprising justices UU Lalit, Ravinder Bhatt, and PS Narasimha also fined him Indian rupee 2000 and said he would spend another two months in jail if failure to pay the amount.

Mallya expressed sadness at the Supreme Court judgment but did not comment further. "I have no comment on the Indian Supreme Court Judgement except to say that I am naturally disappointed," Mallya told PTI.

Banks guided by State Bank of India had moved the top court for recovery of ₹9000 crores that they said Mallya owed them. He claimed that he had paid off most of the dues and that owed only a small part of the amount demanded from him. (with PTI inputs) 

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