Jail time awaits Vijay Mallya even as he tries his best to stall extradition — a timeline of his downfall
- Indian Supreme Court has sentenced Vijay Mallya to four months jail term and imposed a fine of ₹2,000 on him.
- The court found him guilty of contempt in 2017 over transferring $40 million to his children in violation of court orders.
- Vijay Mallya fled to London back in March 2016 as he owned ₹9,000 crore to a consortium of 17 Indian banks.
AdvertisementIndia’s most wanted borrower Vijay Mallya is filing appeal after appeal to stall his extradition back home. Even before he lands here, he has a jail sentence awaiting him and that’s just for one of adjacent offenses — transferring $40 million to his children in 2017.
The Supreme Court of India on Monday sentenced fugitive businessman Vijay Mallya to four months jail term and imposed a fine of ₹2,000 on him, after it found him guilty of contempt as he violated court orders and transferred the amount.
The apex court said that the $40 million transaction carried out by Vijay Mallya is ‘void and inoperable’. It ordered the recipients, Mallya’s children, to return the amount with 8% interest to the recovery officer within four weeks.
If the amount is not returned, Vijay Mallya's properties can be attached. Mallya has four children — Siddharth Mallya, Laila Mallya, Tanya Mallya, Leanna Mallya.
A bench of Justices UU Lalit, S Ravindra Bhat and PS Narasimha passed the order.
Here is the complete timeline of Vijay Mallya’s fall from the King of Good Times to a fugitive:
Vijay Mallya fled to London back in March 2016 as he owned ₹9,000 crore to a consortium of 17 Indian banks. He is said to have left India with a wealth of ₹270 crore.
|March 9, 2016||Vijay Mallya flees India, while he was in discussion with banks to settle the ₹9000 crore debt incurred by his company, Kingfisher Airlines.|
|April 2016||Banks reject Mallya's offers for payment of dues worth ₹9,000 crore.|
|April 2016||Indian government revokes Mallya’s passport.|
|April 2016||Enforcement Directorate moves special court to get a non-bailable warrant and Red Corner notice against Mallya.|
|April 2017||Mallya gets arrested in London over India’s extradition request and was released on bail within a few hours.|
|October 2017||Vijay Mallya was once again arrested in London following an Enforcement Directorate affidavit.|
|March 2018||UK court notes that Indian banks broke rules to lend to Kingfisher Airlines.|
|May 2018||Mallya loses a lawsuit filed by 13 Indian banks, seeking to collect $1.55 billion.|
|May 2018||UK court refuses to overturn worldwide order on freezing Mallya’s assets.|
|June 2018||Vijay Mallya filed an application with Karnataka High Court to sell assets worth ₹13,900 crore.|
|October 2018||UK court orders auction of Mallya’s six luxury cars.|
|November 2018||UK court gives its nod to allow 13 Indian banks to use information disclosed in court as part of a worldwide freezing order in a case involving the sale of a luxury superyacht.|
|December 2018||UK court orders extradition of Vijay Mallya|
|January 2019||Special Prevention of Money Laundering (PMLA) court in India declares Mallya as a ‘fugitive economic offender.|
|February 2019||UK Home Secretary Sajid Javid orders Vijay Mallya's extradition to India.|
|April 2020||The Royal Courts of Justice rejected Mallya's plea against the extradition order of December 2018.|
|July 2021||British court grants bankruptcy order against Vijay Mallya.|
|January 2022||Vijay Mallya loses his plush London home after a British court refuses to grant him a stay order.|
|July 2022||Indian Supreme Court sentences Vijay Mallya to four months jail term and imposes a fine of ₹2,000 on him.|
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