India ‘Fugitive Economic Offender’ Vijay Mallya, Special Court Declares Mumbai: A Special Prevention of Money Laundering Act (PMLA) Court here on Saturday declared liquor baron Vijay Mallya the first ‘fugitive economic offender’ under the Fugitive Economic Offenders’ Act, 2018.
Special judge MS Azmi declared Mallya an offender under Section 12 of the Act after hearing arguments from the lawyer of Mallya and the ED counsel, reported The Indian Express.
The next hearing on confiscation of Mallya’s properties is on February 5.
In November, the Enforcement Directorate (ED) had moved an application, requesting the court to declare Mallya a fugitive under the Act as it would aid the agency to bring him back to the country to face the law here. He is facing charges of financial irregularities for defaulting on Rs. 9,000 crore in loans to Kingfisher Airlines.
The provisions of the Act allow for a person to be declared as a fugitive economic offender (FEO) if: (i) an arrest warrant has been issued against him for any specified offences where the value involved is over Rs 100 crore, and (ii) he has left the country and refuses to return to face prosecution. Once the person is declared a fugitive economic offender, the prosecuting agency has the powers to confiscate his properties.
In December last year, Mallya had moved the Supreme Court, challenging the proceedings in the Mumbai court to declare him an offender. His counsel had earlier argued against him being declared so since he was arrested in the United Kingdom and facing an extradition trial there.
Last month, the Westminster’s court in the United Kingdom had allowed for extradition of Mallya to India to face the fraud charges.
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