Supreme Court awards four months prison to Vijaya Mallya in contempt case
The Hindu
The apex court said Vijay Mallya deserves imprisonment as he has neither shown remorse nor tendered an apology
The Supreme Court on July 11 sentenced fugitive businessman Vijay Mallya to four months imprisonment and ₹2,000 fine to be deposited in the court Registry in four weeks.
In case he does not deposit the amount, Mallya will be sentenced to a further two months imprisonment.
The apex court had found Mallya guilty of contempt in May 2017 for willful disobedience of its order to come clean about his assets. He had not disclosed $40 million received from British liquor major Diageo Plc following his resignation as Chairman of United Spirits Limited in February 2016.
The apex court said Mallya deserves imprisonment as he has neither shown remorse nor tendered an apology.
The transaction of 40 million to beneficiaries has been declared "void and inoperative".
Mallya and his beneficiaries shall be bound to deposit the amount received by them (40 million) with 8% interest per annum with the recovery officer concerned within four weeks.
If not deposited, the recovery officer shall take appropriate proceedings for recovery of the amount and the Government of India and its agencies shall provide assistance and complete cooperation.