Vijay Mallya, a powerful business man has been sentenced to jail for four months in India. This sentence was ordered as he had failed to act according to the court rules and did not pay 40 million dollars. Vijay Mallya was found in London and immediately sentenced to jail. The court has ordered Mallya’s children to pay his debts on behalf of him during his time in jail. He was also asked to pay a fine of Rs.2000, as he failed to clear his earlier dues in the court.
Mallya had been absconding in 2015 earlier after cheating for a loan worth 10,000 crore. He was caught in London in 2018 where he claimed he had not cheated anyone. According to legal procedures, he was asked to return back to India, instead he was granted bail and continued to further the case. Again in 2020 he was asked to return the money after defrauding more than 17 banks. His property worth 14 crore in France was seized and he is still indebted to many other banks. All of his properties that the powerful businessman had changed hands leaving him with only money cheating cases.
What happened to Mallya’s properties?
Known popularly as the owner for hundreds of companies, Mallya lost it all as a debt. The owner of United Breweries popularly known as UB, now a mall in Bengaluru also changed ownership. He also owned Kingfisher Airlines and the popular drinks brand Kingfisher. The airlines was sold off as it was under loss and the drinks company has also been said to have changed ownership. Vijay Mallya took over after his father Vittal Mallya who was also a popular businessman. A road in Bengaluru is named after the latter surrounding which Mallya’s office, UB city and their Mallya hospital were situated. The hospital has also been sold away. One of the most popular of Mallya’s properties was the IPL team of Royal Challengers Bangalore (RCB). The owners of this cricket franchise also changed recently.
His arrest has come as a sense of relief to the government and as long he is in jail, India has achieved in arresting one of the country’s biggest criminals.
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