(Image source from: thestatesman.com)

Indian liquor baron Vijay Mallya fled from the country after he took a lot of debts from the Indian banks. The officials of the Enforcement Directorate are working hard to extradite Vijay Mallya back to the country. The Supreme Court of India sentenced four months jail for Vijay Mallya and a fine of Rs 2000 for a contempt of court case in 2017. The court told that Vijay Mallya was convicted of transferring 40 million USD for his children which is a violation of court orders. The fine has to be deposited in four weeks to the Legal Services Authority of the Supreme Court. If Vijay Mallya fails to do so, his sentence will be increased by two months.

The Supreme Court called the transaction done for his children as void and inoperable. He ordered the recipients to return back the amount with 8 percent interest to the recovery officer in four weeks. Vijay Mallya's properties would be attached if the amount is not returned. A bench with justices UU Lalit, S Ravindra Bhat and PS Narasimha passed the order today. The plea was filed by a consortium of banks that is led by the State Bank of India which sought contempt action against Vijay Mallya. The banks told that Vijay Mallya concealed the facts and he just diverted the funds to his son Siddharth Mallya and daughters Leanna Mallya, Tanya Mallya. Vijay Mallya is accused in a Rs 9000 crore bank loan case which is in the final stages of hearing in England.

By Siva Kumar