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Mallya declared fugitive economic offender

By The Assam Tribune
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MUMBAI, Jan 5 - Weeks after a UK court ordered his extradition, former liquor baron Vijay Mallya, accused of defaulting on loans of over Rs 9,000 crore, received another blow as a Mumbai court declared him a �fugitive economic offender� (FEO).

Mallya on Saturday became the first businessman to be declared an FEO under the Fugitive Economic Offenders Act which came into existence in August 2018. The Enforcement Directorate had moved the special court for FEOA for this purpose.

The agency had requested the court that Mallya, currently in the United Kingdom, be declared a fugitive and his properties be confiscated and brought under the control of the Union government as provided under the Act.

�The application of the ED is partly allowed. Vijay Mallya is declared as Fugitive Economic Offender under section 12(i) of the FEO Act,� said judge MS Azmi in the order.

Hearing on the second part of ED�s plea � confiscation of properties � will start from February 5.

Incidentally, the same court is also hearing ED�s plea to declare diamond merchants Nirav Modi and Mehul Choksi FEOs in the Punjab National Bank fraud case.

Mallya�s lawyers requested the court to stay the order for four weeks so that they could obtain its full copy and move the high court. The judge declined, saying a court under the FEO Act cannot stay its own order.

Mallya left India on March 2, 2016. A court in London on December 10, 2018 ordered his extradition. � PTI

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Mallya declared fugitive economic offender

MUMBAI, Jan 5 - Weeks after a UK court ordered his extradition, former liquor baron Vijay Mallya, accused of defaulting on loans of over Rs 9,000 crore, received another blow as a Mumbai court declared him a �fugitive economic offender� (FEO).

Mallya on Saturday became the first businessman to be declared an FEO under the Fugitive Economic Offenders Act which came into existence in August 2018. The Enforcement Directorate had moved the special court for FEOA for this purpose.

The agency had requested the court that Mallya, currently in the United Kingdom, be declared a fugitive and his properties be confiscated and brought under the control of the Union government as provided under the Act.

�The application of the ED is partly allowed. Vijay Mallya is declared as Fugitive Economic Offender under section 12(i) of the FEO Act,� said judge MS Azmi in the order.

Hearing on the second part of ED�s plea � confiscation of properties � will start from February 5.

Incidentally, the same court is also hearing ED�s plea to declare diamond merchants Nirav Modi and Mehul Choksi FEOs in the Punjab National Bank fraud case.

Mallya�s lawyers requested the court to stay the order for four weeks so that they could obtain its full copy and move the high court. The judge declined, saying a court under the FEO Act cannot stay its own order.

Mallya left India on March 2, 2016. A court in London on December 10, 2018 ordered his extradition. � PTI

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