India’s Supreme Court sentenced Vijay Mallya to four months in jail and ordered him to deposit $40 million, the latest legal setback for the former billionaire known as the “King of Good Times.”
Mallya is on bail in London, where he has been contesting extradition to India following his arrest in the U.K. capital in 2017. Mallya was charged with contempt of court in relation to cases after he failed to repay debt owed to lenders led by State Bank of India. Mallya had been found guilty by India’s Supreme Court in 2017 for violating court by transferring $40 million to his children and failing to fully disclose his assets.
