Supreme Court fines Mallya Rs 2,000, asks to deposit $40 million with interest in 4 weeks

File image of Vijay Mallya (Image: Reuters)

Supreme Court has awarded a punishment of a 4-month jail term to fugitive businessman Vijay Mallya along with Rs 2,000 fine in a 2017 contempt of court case.

The apex court also asked Mallya to deposit back $40 million with interest within four weeks and if he fails to do so it would lead to attachment of properties.

An accused in a bank loan default case involving his defunct Kingfisher Airlines, Vijay Mallya was found guilty in the contempt case for withholding information from the court.

The court noted that Mallya showed no remorse nor did he apologise for the actions for which he was found guilty of contempt.

The apex court had earlier gotten angry over the regular non-appearance of Mallya and had also granted an opportunity to him to file written submissions through his counsel but after repeated non-appearance, the court had in March this year reserved its orders.

The contempt case was filed against Mallya for violating the court’s order wherein he had transferred USD 40 million to his children, in violation of the SC directive in a case filed by the State Bank of India.