Skip to content
Search

Latest Stories

I am naturally disappointed, says Vijay Mallya on India's Supreme Court verdict

The 66-year-old UK-based businessman did not comment further on the verdict.

I am naturally disappointed, says Vijay Mallya on India's Supreme Court verdict

Former Kingfisher Airlines boss Vijay Mallya, who is based in Britain for over five years, Monday, expressed his disappointment at the Supreme Court verdict sentencing him to four months in a contempt case.

The 66-year-old UK-based businessman did not comment further on the verdict handed down by a top court bench headed by Justice U.U. Lalit earlier on Monday. "I have no comment on the Indian Supreme Court verdict except to say that I am naturally disappointed," Mallya told PTI.


The UB Group chair is accused in a bank loan default case estimated at over ₹9,000 crore (1.3 billion USD) involving his now-defunct Kingfisher Airlines. The Supreme Court had on March 10 reserved its order in the matter, observing that proceedings against Mallya have hit a "dead wall".

Back in 2020, the apex court had dismissed Mallya's plea seeking a review of a 2017 verdict which held him guilty of contempt for transferring USD 40 million to his children in violation of court orders.

Mallya has been living in the United Kingdom since March 2016. He was arrested on an extradition warrant executed by the Scotland Yard on April 18, 2017. He remains on bail in the UK while a “confidential" legal matter, believed to be related to an asylum application, is resolved in connection with the extradition proceedings.

Last month, in unrelated proceedings, his lawyers argued in the UK High Court that the Indian banks, led by the State Bank of India (SBI), have been pursuing the same debt against him both in India and the UK as he pursues appeals in an attempt to overturn a bankruptcy order.

A bench headed by Justice U U Lalit also imposed a fine of ₹2,000 ($ 25 USD) on Mallya, who was held guilty of committing contempt of court by the top court on May 9, 2017, for transferring USD 40 million to his children in violation of court orders. As per the Contempt of Courts Act, 1971, contempt of court may be punished with simple imprisonment of up to six months, or with a fine up to ₹2,000, or both.

The bench, also comprising Justices S R Bhat and P S Narasimha, directed that Mallya and the beneficiaries under the said transactions relating to USD 40 million shall be bound to deposit the amount received along with interest at the rate of eight per cent per annum with the concerned recovery officer within four weeks.

(PTI)

More For You

Minouche Shafik

Shafik served as deputy governor for markets and banking at the Bank of England between August 2014 and February 2017.

Reuters

Starmer appoints Minouche Shafik as chief economic adviser in reshuffle

Highlights:

  • Minouche Shafik named chief economic adviser to Keir Starmer.
  • Darren Jones moves into Downing Street role; James Murray replaces him.
  • Wider reshuffle includes changes in Starmer’s private office and communications.
  • Appointment comes ahead of a budget expected to include further tax rises.

Prime minister Keir Starmer has named Minouche Shafik, a former deputy governor of the Bank of England, as his chief economic adviser. The appointment comes as he looks to strengthen his team ahead of what is expected to be a difficult end to the year.

Keep ReadingShow less
modi putin

Before their formal meeting, Putin offered Modi a ride in his Aurus limousine.

X/@narendramodi

Six key takeaways from the SCO summit

INDIAN prime minister Narendra Modi met Russian president Vladimir Putin and Chinese president Xi Jinping on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin, China.

Modi pressed for ending the Ukraine conflict at the earliest, reaffirmed India’s long-standing ties with Russia, and discussed trade and border issues with Xi.

Keep ReadingShow less
Afghanistan earthquake

Afghan volunteers and Taliban security personnel carry an earthquake victim evacuated by a military helicopter from the Nurgal district of Kunar province onn September 1, 2025.

Getty Images

Afghanistan earthquake kills more than 800, thousands injured

A MAJOR rescue operation was underway in Afghanistan on Monday after a powerful earthquake and several aftershocks destroyed homes in a remote mountainous region, killing more than 800 people, according to Taliban authorities.

The quake struck just before midnight and was felt as far as Kabul and in Pakistan’s capital, Islamabad.

Keep ReadingShow less
Ganpati festival

The Ganpati festival celebrates Ganesha as the god of new beginnings, and the god of wisdom and intelligence. (Photo: Getty Images)

Getty Images

Hindu community centre in London damaged in fire after Ganapati Visarjan event

A HINDU community centre in east London caught fire on Saturday evening, causing major damage to the building. The London Fire Brigade brought the fire under control and confirmed that no injuries were reported.

The incident took place at the Shree Sorathia Prajapati Community Centre on Cleveland Road in Ilford, which had been decorated for a Ganapati Visarjan event attended by members of the Hindu community.

Keep ReadingShow less
Modi ,Xi & Putin

Narendra Modi talks with Vladimir Putin and Xi jinping ahead of the Shanghai Cooperation Organization (SCO) Summit 2025 at the Meijiang Convention and Exhibition Centre in Tianjin on September 1, 2025.

Getty Images

SCO declaration slams Pahalgam attack, calls for united action on terror

Highlights:

  • SCO condemns terror attack in Pahalgam and echoes India’s stance on “double standards”.
  • Leaders call for justice for perpetrators of attacks in Pahalgam and Balochistan.
  • Declaration criticises Israeli military strikes in Gaza causing civilian casualties.
  • SCO stresses UN’s central role in global counter-terrorism strategy.

THE SHANGHAI Cooperation Organisation (SCO) on Monday condemned the terror attack in Pahalgam and agreed with India’s position that “double standards” in tackling terrorism are not acceptable.

Keep ReadingShow less