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

The top court bench headed by UU Lalit and Ashok Bhushan said, "We do not find any merits in the plea ". The apex court had reserved its verdict on the review plea on August 27 after hearing arguments from both sides, the report added.

Mallya is an accused in a bank loan default case of over ₹ 9,000 crore involving his defunct Kingfisher Airlines, is presently in the United Kingdom, it said.

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