Legal eagles opine that a lengthy procedure, including another round of court hearings, await before the agencies can confiscate and auction Mallya’s properties. read more

Mallya was declared as Fugitive Economic Offender under the FEO Act by special judge, Prevention of Money Laundering Act (PMLA) cases, M S Azmi on January 5. The order running into 55 pages was signed on Saturday where the court rejected Mallya’s defence... read more

Vijay Mallya was declared ‘fugitive economic offender’ by Mumbai court on Saturday. This means that the government can now seize Mallya’s properties. This is Mallya’s second setback in the last one month. In December, a UK court had allowed his extradition to India to face trial for fraud and money laundering.The special PMLA court and the Bombay High Court had dismissed Mallya’s pleas that “he was not a fugitive economic offender” and not involved in the scheduled offence of money laundering. (Hindustan Times)read more

The verdict of a special court for prevention of money laundering act cases means Mallya’s properties can now be confiscated by the government read more

Minister of State for finance Shiv Pratap Shukla in a written reply in Lok Sabha said Interpol has already issued RCN against eight persons who have fled the country and extradition requests have been sent in case of six. read more

Economic offenders who fled the country will be brought back “today or tomorrow” and those who have stolen India’s money will have to compensate for each and every penny, Prime Minister Narendra Modi asserted on Tuesday. read more

The year 2018 was one when Indian events and issues figured prominently in London making the British capital the host to a calendar of conflict similar to every day life back home. read more

The Vijay Mallya extradition saga rolled on throughout the year, while the cut-and-thrust of domestic politics was reflected in two high-profile visits: the April visit of Prime Minister Narendra Modi for the Commonwealth Summit, and the August visit... read more

TLT LLP, the UK-based law firm which had won a landmark case for the 13 banks led by State Bank of India (SBI) earlier this year, confirmed on Monday that their bankruptcy petition against the 62-year-old businessman has been transferred to the insolvency... read more

Arguing for Vijay Mallya, senior advocate Amit Desai, claimed Mallya had only five bags with him when he flew to Europe, on March 2, 2016. read more

The latest legal action by SBI and other lenders relates to declaring Mallya bankrupt as part of their efforts to seize his assets in the UK to recover the loans. He is planning to contest the fresh petition which, according him, is “not sustainable... read more

Indirectly blaming the bankers for the NPA mess, Gadkari said our banking system is such that it does not support sick companies. read more

Gadkari said that Vijay Mallya, who faces extradition from the UK, used to repay his loan for 40 but started facing problems after enetring the aviation business. read more

Amit Desai, Mallya’s lawyer, told special judge for Prevention of Money Laundering Act (PMLA) cases M S Azmi that his client did not leave the country secretly as claimed by the ED. read more

External Affairs Ministry Spokesperson Raveesh Kumar said India will continue to work with the British government for “expeditious” implementation of the court order. read more