Court declares Vijay Mallya a fugitive economic offender under new law

Court declares Vijay Mallya a fugitive economic offender under new law

Court declares Vijay Mallya a fugitive economic offender under new law

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.

Boulter and Norrie win as Great Britain exit Hopman Cup
Switzerland will play either Germany or Australia in the Hopman Cup final. "This format lends itself to some exciting tennis". Federer trailed 4-1 in the first tiebreaker before reeling off consecutive forehand winners to claw back into it.

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.

Recommended News

  • How Healthcare Providers Can Reduce Insurance Claim Denials

    And, it’s important to account for the time and effort spent by administrative staff handling these denied claims. They also have the potential to adversely affect patients’ opinions about the organization.
    Porsche 718 Cayman GT4 Clubsport packs 425 HP and a roll cage

    Porsche 718 Cayman GT4 Clubsport packs 425 HP and a roll cage

    There will be a non-homologated version for track enthusiasts appropriately labeled the 718 Cayman GT4 Clubsport Trackday. At the same time, we were able to increase the downforce and the cockpit is now even better suited to drivers' needs.
    James DeGale vs Chris Eubank Jr

    James DeGale vs Chris Eubank Jr

    The two British stars, both looking to breathe new life into their careers, will meet at London 's O2 Arena. In February it's going to be a painful lesson for [DeGale]". "I know everything about you".
  • New Zealand vs Sri Lanka

    Opener Danushka Gunathilaka played his part at the top of the order with 71 but elsewhere the Sri Lankan batsmen failed to fire. Sri Lanka were 128 for seven at one stage in their chase for 320 runs, but a century by Perera got them close.
    U.S. court rules for Trump on transgender military limits

    U.S. court rules for Trump on transgender military limits

    The ban currently remains in place, however, because each of the other two district courts' injunctions remain in place for now. Circuit's final word on the transgender military ban.
    Mueller grand jury term extended following Friday expiration

    Mueller grand jury term extended following Friday expiration

    Capitol for closed meeting with members of the Senate Judiciary Committee June 21, 2017 in Washington, DC. Trump , including former campaign chairman Paul Manafort , and campaign adviser George Papadopoulos.
  • Flaunt Your Style at Your Office with Graceful Jewellery

    This is why it is best to avoid jewellery that will draw unwanted attention and take away the focus from what you are presenting. A delicate diamond ring, a simple platinum or gold band looks great and works well with both Indian as well as western outfits.
    FA Cup Third Round Report: Chelsea v Nottingham Forrest 05 January

    FA Cup Third Round Report: Chelsea v Nottingham Forrest 05 January

    The teenage winger nearly got one himself when he danced into the box only to see his shot blocked by a good low save by Steele. He received a wonderful reception from the Stamford Bridge faithful, and he appeared to get emotional as he exited the pitch.
    Shenzhen Open: Injured Maria Sharapova Retires From Quarters

    Shenzhen Open: Injured Maria Sharapova Retires From Quarters

    World No 13 Sabalenka will face the victor of Romanian qualifier Monica Niculescu's clash with China's Wang Yafan for a spot in the Shenzhen final.
  • L train will no longer shutdown between Brooklyn, Manhattan: Cuomo

    L train will no longer shutdown between Brooklyn, Manhattan: Cuomo

    The MTA has committed to four public meetings on the new plan in Manhattan and Brooklyn, according to a release from Brewer's office.
    Arrest of Yellow Vest leader Drouet slammed as ‘abuse of power’ & ‘dictatorship’

    Arrest of Yellow Vest leader Drouet slammed as ‘abuse of power’ & ‘dictatorship’

    Hours beforehand, he was arrested on his way to meet friends outside a McDonalds restaurant near the Arc de Triomphe war monument. So-called because of the high-visibility jackets they wear, the Yellow Vest protesters sprung into action in November.
    Barack Obama appears on Billboard's Hot R&B Songs chart

    Barack Obama appears on Billboard's Hot R&B Songs chart

    On the track , Obama delivers his rendition of George Washington's farewell address . This isn't the first time Obama's voice has earned him recognition.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.