
Business tycoon Vijay Mallya declared fugitive economic offender by court; now govt can seize his assets
Former liquor baron Vijay Mallya became the first Indian businessman to be declared a fugitive economic offender on Saturday by a special court in Mumbai in a ruling that will likely empower government agencies to confiscate his properties in India and overseas.
Special judge MS Azmi invoked the Fugitive Economic Offenders Act, which was passed in August last year, on an application by the Enforcement Directorate (ED) to have Mallya declared a fugitive from justice. The Act was passed to deter economic offenders from fleeing the country to escape the Indian justice system.
Mallya, 63, who in his flamboyant heydays was known as the ‘king of good times,’ flew out of India to the UK in March 2016 as banks owed Rs 9,000 crore by his Kingfisher Airlines, grounded in 2012, closed in on him. The businessman is also sought by the ED, which investigates foreign exchange rule violations and money laundering.
The ruling is the second blow suffered by Mallya within a matter of weeks.The Westminster Magistrates Court in London on December 10 ordered his extradition to India on an application by the Indian government. It’s now up to the UK foreign secretary to decide whether he should indeed be sent back to India .
The ED requested the special court to declare Mallya a fugitive and to allow the confiscation of his properties under the Fugitive Economic Offenders Act.
Also Watch: London court orders business tycoon Vijay Mallya’s extradition to India
Pointing to various inter-state disputes over sharing river water, the PM said the revival of the North Koel irrigation project could be termed as strengthening federalism. He especially praised the chief ministers of Jharkhand and Bihar for collectively pursuing the revival of the long-pending Mandal Dam.
“The application of the ED is partly allowed. Vijay Mallya is declared a fugitive economic offender under section 12 (i) of the FEO Act,” said judge Azmi. Hearings on the second part of the ED’s plea - confiscation of properties - will start on February 5.
Mallya’s lawyers requested the court to stay the order for four weeks so that they could obtain a full copy and move the high court. The judge declined, saying that a court under the Fugitive Economic Offenders Act cannot stay its own order. They argued that he had surrendered before a court in London (during the hearing on his extradition case) and obtained bail,and therefore could not be called a fugitive.
Mallya’s lawyers also questioned ED’s claim that he left India under suspicious circumstances, arguing that he had left to attend a meeting of World Motor Sports as the director of a Formula 1 team, Force India.
DP Singh, special counsel for the ED, contended that Mallya had contested the extradition process, which he said was proof that he was not willing to return.
Mallya’s lawyer, Amit Desai, argued that the liquor baron cannot be declared a fugitive because he was already undergoing extradition proceedings in the UK.
A fugitive economic offender is a person against whom an arrest warrant has been issued for committing an offence and who has left India to avoid criminal prosecution. 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 . These applications will be heard by the same special court.
Under the 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 at least Rs 100 crore and he has left the country and refuses to return.

'According to our finance minister': What Taapse Pannu said on 2013 I-T raids

Odisha: State govt to increase funds for MSMEs, says CM Patnaik

Rajasthan makes negative Covid report mandatory for visitors from 4 more states
- A statement form the Rajasthan Chief Minister's Office cited rising Covid-19 cases in the neighbouring states for the decision to insist on negative Covid reports for visitors.

Nagpur man befriends nurse on matrimonial site, dupes her of ₹40 lakh
- The woman who suspected foul play, checked the accused's Facebook account and found out that he was regularly chatting with another woman, who turned out to be his wife.

'India-China border tensions reflect growing Chinese aggression': Kahl

Active Covid-19 cases above 1.8 lakh, with 18,327 new infections in 24 hours

Final hearing of Alwar lynching case to be held today. Here's a recap

News updates from HT: PM to address Combined Commanders' Conference today

ITBP jawan killed in Maoist IED blast in Chhattisgarh’s Narayanpur
- It was the second Maoist attack in the last two days in Chhattisgarh.

SC seeks Centre’s response to trace Army captain in Pakistani jail since 1997
- A three-judge bench headed by Chief Justice of India (CJI) asked the petitioner's lawyer to compile a list of similarly placed officers of the Indian armed forces still languishing in Pakistani jails.

End dowry system: Leaders speak up after Gujarat woman allegedly dies by suicide

Maharashtra adds over 50k new cases in 6 days: What ministers said on lockdown

Court restrains media from airing Karnataka minister's alleged sex tape
- The order was issued after hearing an injunction suit filed by Ramesh Jarkiholi’s lawyers on Wednesday. The suit had named 68 media houses, channels and others.

British envoy says farmers' protest is India’s 'internal issue'
- High Commissioner Alex Ellis also said more debates on the farmers' protest should be expected around the world as India takes on a greater role on the global stage
