SC orders Vijay Mallya to return $40 million sent to family with 8% interest, calls transaction 'void’

The Supreme Court on Monday sentenced fugitive liquor baron Vijay Mallya to four months in jail and imposed a Rs 2,000 fine on him in a 2017 contempt of court case.

He was convicted of contempt in 2017 over transferring $40 million to his children in violation of court orders.

While awarding him a jail term, the top court also asked Mallya to deposit the $40 million with 8 per cent interest within four weeks to the Supreme Court legal services authority.

The order was passed by a bench of Justices UU Lalit, S Ravindra Bhat and PS Narasimha. "

A contempt action against Mallya, an accused in a bank default case of over Rs 9,000 crore, was sought by a consortium of banks led by the State Bank of India (SBI).

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A month back on February 10, the top court had given the last opportunity of two weeks for Mallya to personally present himself or through his counsel in the contempt case, noting that they had waited "sufficiently long".

According to the court, Mallya was presented multiple opportunities to appear either personally or through a lawyer and had even given specific directions in its order dated November 30, 2021.