Wednesday, August 17, 2022
HomeEntertainmentIndian Government Sends Kingfisher Tycoon Vijay Mallya to Jail

Indian Government Sends Kingfisher Tycoon Vijay Mallya to Jail

Here it is the complete celebrity life updates about Vijay Mallya only on Premiere’s next website. Read the full article to know about why Vijay Mallya is sentenced to jail.

Tycoon Vijay Mallya was given a four-month prison sentence by India’s highest court for breaching a previous court order related to the demise of his airline. The erstwhile tycoon, who is reportedly still in London, has been the subject of past attempts by India to secure his extradition.

Before venturing into aviation and Formula 1 racing, he amassed a fortune by marketing beer under the Kingfisher brand. Prior to its demise ten years ago, Kingfisher Airlines was the second-largest domestic airline in India.

In 2017, the court stated that he had been convicted of the same crime for allegedly transferring $40 million to his children while loans to Kingfisher Airlines remained unpaid. Mr. Mallya, who is referred to as the “king of good times” in reference to his opulent lifestyle, has battled extradition from the UK to India, where he is accused of crimes like fraud.

Mallya, who left India in 2016 after going into default on debts totaling more than $1 billion (£842 million), has denied evading justice. He could be extradited from the UK to India to face charges there, according to a court’s decision in London around the end of 2018. At the High Court in London in 2020, Mr. Mallya was unsuccessful in his last attempt to stop his extradition. He may still be residing in London, though.

In connection with alleged financial irregularities at kingfisher airlines, Mr. Vijay Mallya is accused of a number of crimes

Vijay Mallya

In 2012, the carrier was shut down amid allegations that its pilots and cabin employees had labored for 15 months without pay. A group of lending institutions, including the State Bank of India, had petitioned the top court, claiming that Mallya was disobeying court orders on repayment of the debt, which at the time was in excess of Rs 9,000 crore.

According to media sources, the Supreme Court bench ordered Mallya to deposit the fine to the court legal services department within four weeks; otherwise, a second two-month punishment would be added.

This punishment follows his conviction for contempt of court more than five years ago. Justices U. U. Lalit, S. R. Bhat, and P. S. Narasimha were on the Supreme Court panel that ruled that Mallya, who was not present during the proceedings, had neither expressed regret nor offered an apology.

Regarding the many actions imposed on Mallya in the contempt case, the court stated in its 19-page judgment that “it shall be open to adopting such relevant steps, including the appointment of forensic auditor(s).”

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Sambhrama S
Sambhrama S
My name is Sambhrama S, from Shimoga, Karnataka. I'm studying in MSC Biochemistry at Mysore University Mysore. I am interested in reading books, listening music, painting. I am also passionate to write good content on various day to day issues.
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