The Supreme Court on Monday dismissed a plea of fugitive businessman Vijay Mallya seeking review of its 2017 order holding him guilty of contempt of court for transferring USD 40 million to his children.

A bench comprising justices U U Lalit and Ashok Bhushan said, "We do not find any merits. Review petition dismissed."

The apex court had reserved its verdict on the review plea on August 27 after hearing arguments from both sides.

Mallya had filed the petition seeking review of the apex court's May 9, 2017 order by which he was held guilty of contempt of court for transferring USD 40 million to his children in violation of the order.

The fugitive businessman, who is an accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, is presently in the United Kingdom.

The apex court's 2017 order had come on a plea by consortium of banks led by the State Bank of India (SBI), which had said that Mallya had allegedly transferred USD 40 million received from British firm Diageo, to his children in "flagrant violation" of various judicial orders.