The Supreme Court on Monday sentenced fugitive financial criminal Vijay Mallya to 4 months in jail in a contempt of court case for not only disclosing his assets and secretly transferring $40 million to his family members. Malia will serve the detention center term when she is brought back to India.
A bench led by Justice Uday U Lalit additionally ordered Mallya to deposit $40 million with the court docket within four weeks with 8% annual entertainment, failing which the court said attachment proceedings would be initiated.
A bench comprising Justices S Ravindra Bhat and PS Narasimha emphasized that Mallya had not expressed remorse at any stage of the trial and that it was crucial to impose an adequate punishment to uphold the majesty of the law.
Mallya was once convicted of contempt of court by an order in May 2017 for willfully defying an order to hand over all his belongings and now for not disclosing $40 million he earned from British liquor major Diageo Plc following his resignation as chairman. of United Spirits Ltd. in February 2016. The money Mallya received from Diageo was once transferred to his three young men and estranged wife. The Contempt of Court Act, 1971 provides for a maximum imprisonment of six months.
