Mallya fined Rs 2,000: Supreme Court sentenced to 4 months imprisonment in contempt case; Said- Punishment necessary, because Mallya does not regret

The Supreme Court on Monday sentenced fugitive liquor baron Vijay Mallya to four months in jail and a fine of Rs 2000 in a contempt case. “The punishment is necessary as Mallya has no remorse,” the bench said. Failure to pay the fine will result in an additional punishment of 2 months.

Mallya has also been asked to return $ 40 million (about Rs 317 crore) with 8% interest within 4 weeks. Mallya transferred this amount to the foreign account of his children. Failure to do so will result in attachment of his property. In the Supreme Court, a 3-judge bench comprising Justice U U Lalit, Justice S Ravindra Bhatt and Justice Sudhanshu Dhulia gave this decision.

Mallya gave wrong information about money
Mallya has not only given wrong information to the court regarding the transfer of money to foreign accounts, but has also extended the contempt further by not appearing in the court for the last 5 years. On May 9, 2017, the Supreme Court held Mallya guilty of contempt and initiated proceedings against him. The court had also dismissed Mallya’s plea seeking review of the 2017 verdict in 2020. After this, on March 10, the decision on Mallya’s sentence was reserved.

Banks did not pay Rs 9,000 crore
The liquor trader is accused of not repaying the loan of more than Rs 9,000 crore. A consortium of banks led by State Bank of India (SBI) had filed a petition before the Supreme Court, seeking contempt action against Mallya. It was alleged that he transferred US$40 million to his children, thereby violating court orders. She has been in the UK since March 2016.