The decision was made by a bench of Justices UU Lalit, S Ravindra Bhat, and PS Narasimha.
Digital Desk: The Supreme Court today imposed a four-month prison term and a Rs 2,000 fine on wanted liquor tycoon Vijay Mallya for a 2017 contempt of court case. In 2017, he was found guilty of contempt for giving his children $40 million against court restrictions. The court ordered that the fine be paid to the Supreme Court legal services authority within four weeks or else an additional two-month term would be added.
The judges stated, "We must impose appropriate punishment in order to protect the majesty of justice."
The top court in the country also ruled that Vijay Mallya's 40 million dollar transfer to his children was "void and inoperable," and it ordered the recipients to return the money, along with 8% interest, to the recovery officer within four weeks. The properties owned by Vijay Mallya could be seized if the money is not returned.
The court ruling stated, "The government of India and other agencies should help in the process. If this is not deposited, the recovery officer might take appropriate proceedings for the recovery of the abovementioned sum."
The decision was made by a bench of Justices UU Lalit, S Ravindra Bhat, and PS Narasimha.
A consortium of banks, led by the State Bank of India (SBI), filed a petition asking for Vijay Mallya to be held in contempt of court and ordered to deposit $40 million that he had received from the offshore company Diageo.
Banks claimed that Vijay Mallya hid the truth and gave the money to his children, Siddharth Mallya, Leanna Mallya, and Tanya Mallya, in "flagrant violation" of the Karnataka High Court's rulings.
On March 10, the Supreme Court announced that it had reserved judgement on the matter.
Vijay Mallya was found guilty on two counts: failing to disclose assets and violating the Karnataka High Court's express directions of restriction. He has been in the UK since March 2016.
Meanwhile, the hearing took place in the absence of Vijay Mallya, who fled to the United Kingdom.
It may be mentioned that Vijay Mallya's extradition from the UK has been approved, although the Centre had previously notified the court that he could not be transferred to India because of "secret" proceedings that are ongoing there that it is not aware of
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