The Supreme Court on Monday sentenced fugitive businessman Vijay Mallya to four months jail term in a 2017 contempt case, the Hindustan Times reported. The court also imposed a contempt fine of Rs 2,000.
A bench comprising Justices UU Lalit, S Ravindra Bhat and PS Narasimha had reserved orders on the sentence on March 10.
The businessman was found guilty of transferring $40 million to his children in violation of the orders passed in a case pertaining to the now-defunct Kingfisher Airlines, according to Live Law.
Mallya, who is currently on bail in the United Kingdom, owes over Rs 9,000 crore in debts of Kingfisher Airlines, to a consortium of banks led by the State Bank of India.
On Monday, the court directed Mallya to deposit the $40 million with 8% interest within four weeks. The bench said attachment proceedings will be initiated against his properties if he failed to do so.
“If this is not deposited, the recovery officer can take appropriate actions for recovery of the said amount and the government of India and all agencies should assist in that process,” the court order said, according to NDTV.
The court also noted that Mallya did not show any remorse for his conduct and did not appear before it during the hearings, according to Live Law. It further added that an adequate sentence was necessary to “uphold the majesty of the law” in the case.
On March 10, Mallya’s counsel had told the court that he was handicapped in the absence of any instruction from his client, who is in the United Kingdom, and would not be able to argue on the quantum of sentence to be awarded in the contempt case, according to PTI.
The Supreme Court had then observed that it had waited “sufficiently long” in the case and said that it had provided multiple opportunities to Mallya to appear either personally or through a lawyer.
Mallya has been in the United Kingdom since March 2016.