HC turns down Mallya plea on "fugitive" tag
Mumbai, Nov 22 (IBNS): The times are not so good for the King of Good Times. Bombay High Court on Thursday dismissed a plea filed by liquor baron Vijay Mallya seeking a stay on the Enforcement Directorate's request to declare him a fugitive economic offender and confiscate his properties.
The Enforcement Directorate wants Mallya to be tagged a "fugitive" under the the Fugitive Economic Offenders’ Act, 2018.
Once someone is named a fugitive economic offender, the prosecuting agency has the powers to confiscate properties of the accused.
According to media reports, Mallya’s counsel Amit Desai on Thursday told the court: “We are also anxious to clear the dues and to see to it that creditors get their dues back. We do not want the properties to be seized by the Enforcement Directorate, which would then hamper the process of clearance of dues.”
The high court, however, was not convinced.
Vijay Mallya, owner of the now-defunct Kingfisher Airlines who now lives in the UK, fled India in March 2016. He owes around Rs. 9,000 crore to banks and faces trial on different counts ranging from defaulting of loans and money syphoning.
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