SC asks Vijay Mallya to return $80 million, gets 4 months in jail
- 2 years ago
The Supreme Court on Monday directed Vijay Mallya to deposit 40 million USD with interest within four weeks and asked the authorities to take attachment proceedings in case of his default. The court also sentenced Mallya to four-month imprisonment in the contempt case.
The court said, "The transaction, where Mallya transferred 40 million USD from the sale of the United Breweries property to his children, was void. All money transferred by him is to be returned to the loan recovery officer with 8 per cent interest."
The court said, "The transaction, where Mallya transferred 40 million USD from the sale of the United Breweries property to his children, was void. All money transferred by him is to be returned to the loan recovery officer with 8 per cent interest."