- 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.
India’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
$4 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.
Dates
| Events
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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.
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April 2016
| Banks reject Mallya's offers for payment of dues worth ₹9,000 crore.
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April 2016
| Indian government revokes Mallya’s passport.
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April 2016
| Enforcement Directorate moves special court to get a non-bailable warrant and Red Corner notice against Mallya.
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April 2017
| Mallya gets arrested in London over India’s extradition request and was released on bail within a few hours.
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October 2017
| Vijay Mallya was once again arrested in London following an Enforcement Directorate affidavit.
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March 2018
| UK court notes that Indian banks broke rules to lend to Kingfisher Airlines.
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May 2018
| Mallya loses a lawsuit filed by 13 Indian banks, seeking to collect $1.55 billion.
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May 2018
| UK court refuses to overturn worldwide order on freezing Mallya’s assets.
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June 2018
| Vijay Mallya filed an application with Karnataka High Court to sell assets worth ₹13,900 crore.
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October 2018
| UK court orders auction of Mallya’s six luxury cars.
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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.
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December 2018
| UK court orders extradition of Vijay Mallya
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January 2019
| Special Prevention of Money Laundering (PMLA) court in India declares Mallya as a ‘fugitive economic offender.
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February 2019
| UK Home Secretary Sajid Javid orders Vijay Mallya's extradition to India.
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April 2020
| The Royal Courts of Justice rejected Mallya's plea against the extradition order of December 2018.
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July 2021
| British court grants bankruptcy order against Vijay Mallya.
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January 2022
| Vijay Mallya loses his plush London home after a British court refuses to grant him a stay order.
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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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