Mallya, accused of defaulting on loans of over Rs 9,000 crore, was on January 5 declared a fugitive economic offender (FEO) by special Judge M S Azmi of the Prevention of Money Laundering Act (PMLA) court.
The BJP on Saturday said the absconding Vijay Mallya being declared a fugitive economic offender by a Mumbai court has come as a feather in the ruling party's cap in its fight against corruption.
Vijay Mallya had moved to London in 2016, leaving behind a bad debt of over Rs 9,000 crore with at least 17 Indian banks.
Last week, after the ruling by Westminster Magistrates’ Court, Mallya (63) said that he would consider the verdict in detail and decide his next course of action.
Embattled liquor tycoon Vijay Mallya, on Thursday congratulated Congress leaders Sachin Pilot and Jyotiraditya Scindia over the party's wins in Rajasthan and Madhya Pradesh assembly polls.
Admit Desai, Mallya's lawyer, had Tuesday 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.
Mallya is in the queue, and the noose is closing in on two other fugitives - Nirav Modi and Mehul Choksi, who are hiding in foreign lands.
Vijay Mallya: The end of good times
London's Westminster Magistrates Court on Monday ordered extradition of embattled liquor tycoon Vijay Mallya to India.
The 62-year-old former Kingfisher Airlines boss had been on bail since his arrest on an extradition warrant in April last year.
Vijay Mallya should be extradited from Britain to India, rules London court.
The 62-year-old former Kingfisher Airlines boss has been on bail since his arrest on an extradition warrant in April last year.
Vijay Mallya left India in 2016 after a consortium of banks got together to start legal proceedings to recover the loans.
According to the provisions of the Act, once a person is declared a fugitive economic offender, then the prosecuting agency has the powers to confiscate the accused persons' properties.
Mallya left India on March 2, 2016, and faces charges of defrauding banks to the tune of Rs 9,000 crore.
The court also issued an order asking Mallya to pay an amount of £ 88,000 to UBS Investment Bank which had issued £ 20.4 million in the mortgage loan for his London property.
The ED had filed an application before a special Prevention of Money Laundering Act (PMLA) court seeking the 'fugitive' tag for Mallya under the Fugitive Economic Offenders' Act, 2018.
The property was referred to in the UK High Court as a "high class home for Dr Vijay Mallya and his family members and United Breweries Group corporate guests".
Mallya’s counsel Amit Desai had submitted an application in the case to ED.
Chief Metropolitan Magistrate Deepak Sherawat issued fresh directions after the Bengaluru Police, through ED’s special public prosecutor N K Matta and advocate Samvedna Verma, sought more time to execute its earlier order.
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