The ED had requested the Prevention of Money Laundering Act (PMLA) court that Vijay Mallya, who is currently in the UK, be declared a fugitive and his properties be confiscated and brought under the control of the Union government
Indian tycoon Vijay Mallya smokes outside court for a break as he attends a hearing at Westminster Magistrates Court in central London on December 10, 2018. Pic/AFP
A special court in Mumbai on Saturday declared absconding liquor baron Vijay Mallya a fugitive economic offender (FEO) on a plea of the Enforcement Directorate. Mallya has become the first businessman to be declared EFO under the provisions of the new Fugitive Economic Offenders Act which came into existence in August last year.
ADVERTISEMENT
The ED had requested the Prevention of Money Laundering Act (PMLA) court that Mallya, who is currently in the UK, be declared a fugitive and his properties be confiscated and brought under the control of the Union government as per the provisions of the new FEO Act.
Special judge MS Azmi declared Mallya an FEO under Section 12 of the Act after hearing extensive arguments from the lawyer of Mallya and the ED counsel. Mallya, accused of defaulting on loan repayments and money laundering, had left India in March 2016.
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
