Advertisement

Kingfisher tycoon Vijay Mallya sentenced to jail in India

  • Web Desk
  • Share

Kingfisher tycoon

Kingfisher tycoon Vijay Mallya sentenced to jail in India. (credits: Google)

Advertisement
  • Vijay Mallya was convicted of contempt of court for breaching order related to his Airlines.
  • The erstwhile tycoon left India in 2016 after defaulting on debts totaling more than $1 billion
  • He could be extradited from the UK to India to face charges there.
Advertisement

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.

The Indian Supreme Court convicted Mr. Mallya in contempt on Monday because it claimed he failed to declare his assets after missing a loan payment.

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.

Advertisement

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.

Also Read

Reliance to acquire Gap to India most recent retail wagered

Reliance, India's biggest retailer, said on Wednesday. It has cooperated with Gap...

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. Mallya is accused of a number of crimes.

Advertisement

In 2012, the carrier was shut down amid allegations that its pilots and cabin employees had laboured for 15 months without pay.

Also Read

Akash Ambani replaces Mukesh Ambani as the new chairman of Jio

Akash Ambani, the 65-year-old billionaire's eldest son, will take over as chairman...

Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Live News.


Advertisement
End of Story
BOL Stories of the day
BTC TO PKR – Today’s Bitcoin price in Pakistan on September 17, 2025
BTC TO USD – Today’s Bitcoin price in Dollar on September 17, 2025
Top-Selling Vs Lowest-Selling Cars in Pakistan – Latest 2025 Update
Punjab E-Taxi Scheme: Applications Now Open – Apply Online
Currency Exchange Rates in Pakistan Today – 16 September 2025
Gold Rate in Pakistan Today – 16 September, 2025
Next Article
Exit mobile version