Court rejects Vijay Mallya's plea against Enforcement Directorate's proceedings for fugitive economic offender tag

Special judge MS Azmi rejected Vijay Mallya's plea and said the court will hear arguments on the main ED plea to declare the beleaguered industrialist an FEO on 22 November

Press Trust of India October 31, 2018 07:35:33 IST
Court rejects Vijay Mallya's plea against Enforcement Directorate's proceedings for fugitive economic offender tag

Mumbai: A special court on Tuesday rejected businessman Vijay Mallya's plea seeking a stay on the proceedings initiated by the Enforcement Directorate (ED) to declare him a fugitive economic offender (FEO).

Special judge MS Azmi rejected Mallya's plea and said the court will hear arguments on the main ED plea to declare the beleaguered industrialist an FEO on 22 November.

The special court had heard extensive arguments on Friday from Mallya's lawyer as well as the ED counsel on his petition seeking a stay on proceedings of the financial crime probe agency against him.

Court rejects Vijay Mallyas plea against Enforcement Directorates proceedings for fugitive economic offender tag

Vijay Mallya. File photo. AP

The ED has sought that Mallya, who is currently in the UK, be declared an FEO and his properties be confiscated and brought under the control of the Union government as per provisions of the new FEO Act.

Mallya's counsel Amit Desai, however, had urged the court, set up under the Prevention of Money Laundering Act (PMLA), to refrain from hearing the ED's plea at least till 26 November.

Desai had told the court that earlier this month, the appellate tribunal against money laundering had directed the ED to maintain status quo with regard to Mallya's properties till 26 November, the next date of hearing before the tribunal.

The ED, represented by advocate D P Singh, however, had told the court that Desai's arguments were aimed only at ensuring that Mallya did not have to face any proceedings before any court in India.

He has no intention of repaying anyone, or, of ever coming back to India. Mallya is using the pending extradition proceedings and his bail conditions imposed by an English court as mere excuses to avoid coming back to India. Declaring him an FEO is the only way to bring him back, ED had told the court.

The ED had also argued the court could first declare Mallya an FEO and then wait for the tribunal's proceedings before acting upon the agency's plea for the confiscation of the embattled liquor tycoon's properties and assets.

Mallya, accused of defaulting on loan repayments and money laundering, left India in March 2016.

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