TIL Desk/Business/New Delhi/ The Supreme Court on Monday awarded four-month sentence to fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case.
A bench headed by Justice U U Lalit also imposed a fine of Rs 2,000 on Mallya. The top court had on March 10 reserved its order in the matter, observing that proceedings against Mallya have hit a “dead wall”.
The apex court had in 2020 dismissed Mallya’s plea seeking review of the 2017 verdict which held him guilty of contempt for transferring USD 40 million (one million = 10 lakh) to his children in violation of court orders. Mallya has been living in the United Kingdom since March 2016. He is on bail on an extradition warrant executed by the Scotland Yard on April 18, 2017.
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