The fugitive businessman Vijay Mallya is wanted by many banks as he owes thousands of crores to various banks and the collegium of banks is trying hard to get the money from him. The Indian government is trying its best in bringing him back to India.
Amid this, the Supreme Court of India found Vijay Mallya guilty in a contempt of case that goes back to 2017. The Apex Court is satisfied with the arguments and pieces of evidence and slapped him with a jail term of four months along with a fine of Rs 2,000.
The Apex Court said that Vijay Mallya had transferred 40 million dollars to his children and this was not disclosed, which is clearly a violation. Having slapped him with a fine and jail term, the Supreme Court directed Vijay Mallya to deposit the money back along with interest.
The Apex Court has been waiting to hear the petition for quite some time. As the extradition might take some more time, the Supreme Court heard the petition and said that it cannot wait for a longer period.
As Vijay Mallya is living in the United Kingdom and he is not leaving any stone unturned to escape the extradition, India has to wait for a longer period to see Mallya coming back.
After he comes back to India, Vijay Mallya might go through a jail term. The fugitive liquor tycoon has been seeking directives from the Supreme Court in the United Kingdom to escape extradition,saying that the conditions and facilities are not good in jail.
Earlier, the Apex Court gave a chance to Vijay Mallya in this contempt of court row to appear for the hearing through his lawyer or he can be present personally on the court premises.
Fearing that he might get arrested if he lands in India, Vijay Mallya did not attend the hearing. Now all the eyes are on the verdict of the top court in the United Kingdom.
Media reports say that the verdict might come in favor of India and Vijay Mallya might be brought to India soon. Banks and the Indian government are eagerly waiting for the day to come.
Amid this, the Supreme Court of India found Vijay Mallya guilty in a contempt of case that goes back to 2017. The Apex Court is satisfied with the arguments and pieces of evidence and slapped him with a jail term of four months along with a fine of Rs 2,000.
The Apex Court said that Vijay Mallya had transferred 40 million dollars to his children and this was not disclosed, which is clearly a violation. Having slapped him with a fine and jail term, the Supreme Court directed Vijay Mallya to deposit the money back along with interest.
The Apex Court has been waiting to hear the petition for quite some time. As the extradition might take some more time, the Supreme Court heard the petition and said that it cannot wait for a longer period.
As Vijay Mallya is living in the United Kingdom and he is not leaving any stone unturned to escape the extradition, India has to wait for a longer period to see Mallya coming back.
After he comes back to India, Vijay Mallya might go through a jail term. The fugitive liquor tycoon has been seeking directives from the Supreme Court in the United Kingdom to escape extradition,saying that the conditions and facilities are not good in jail.
Earlier, the Apex Court gave a chance to Vijay Mallya in this contempt of court row to appear for the hearing through his lawyer or he can be present personally on the court premises.
Fearing that he might get arrested if he lands in India, Vijay Mallya did not attend the hearing. Now all the eyes are on the verdict of the top court in the United Kingdom.
Media reports say that the verdict might come in favor of India and Vijay Mallya might be brought to India soon. Banks and the Indian government are eagerly waiting for the day to come.