Court declares Vijay Mallya a fugitive economic offender under new law

Vijay Mallya a fugitive economic offender: Court

Vijay Mallya a fugitive economic offender: Court

The agency had requested the court that Mallya, now 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. Earlier, Mallya was seen accusing that there were plans to frame and defame him though he had expressed that he's willing to repay the loans.

Absconding liquor baron Vijay Mallya on Saturday became the first person to be declared a fugitive economic offender by the special court hearing cases under the Fugitive Economic Offenders Act (FEOA).

The court said it would consider the second part of the application, on confiscation of properties, mentioned in the application when it hears the matter on February 5, when all intervenors in the case would be heard.

The Enforcement Directorate (ED) had cited a number of reasons why it had a strong base in pressing the application asking fugitive economic offender (FEO) tag for the embattled businessman who is now living in the UK. The ED has also submitted applications to have jewellers Nirav Modi and Mehul Choksi declared fugitives under the same law after they left India, where they are accused in a Rs.14,000 scam at state-run Punjab National Bank.

The Bombay High Court and the special court rejected Mallya's petitions against the agency's request.

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However, through his lawyers, Mallya told the Special Court that he had not fled the country but left in the ordinary course to attend a meeting in Switzerland in March 2016 at the World Motor Sport Council and the arrest warrant against him was issued much later.

The Congress on Saturday lashed out at the BJP over the ruling party's claim that it had acted against economic offenders like Vijay Mallya, saying the Centre is trying to claim the credit for everything, as if those happened only after it assumed office in 2014. Last month, the Supreme Court, too, refused to stay proceedings initiated by the Enforcement Directorate. A court in London on December 10, 2018 ordered his extradition. The Centre recently introduced the Fugitive Economic Offenders Ordinance which was assented by the President.

He is wanted in India for defaulting on Rs 9,000 crore in loans to his failed Kingfisher Airlines.

Under the FEO Act, a person can be declared a Fugitive Economic Offender if a warrant has been issued against him for an offence involving an amount of Rs 100 crore or more and he has left the country and refuses to return.

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