Fugitive Economic-offender

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Fugitive Economic-offender - Total results - 23
Vijay Mallya cannot use pendency of plea to stall insolvency proceedings against him in other jurisdictions: SC
Business

Vijay Mallya cannot use pendency of plea to stall insolvency proceedings against him in other jurisdictions: SC

Vijay Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) with defaulting on bank loans to the tune of Rs 9,000 crore.

PNB Fraud Case: Bank may recover Nirav Modi's assets mortgaged with it; report sends share prices up
Business

PNB Fraud Case: Bank may recover Nirav Modi's assets mortgaged with it; report sends share prices up

ED has attached all encumbered and unencumbered assets belonging to Nirav Modi and he has been declared a fugitive economic offender by PMLA court.

PNB scam: Nirav Modi declared fugitive economic offender by special court in Mumbai; second businessman after Vijay Mallya to get tag
India

PNB scam: Nirav Modi declared fugitive economic offender by special court in Mumbai; second businessman after Vijay Mallya to get tag

As per the investigating agency, Nirav and his uncle Choksi, in connivance with certain bank officials, allegedly cheated the PNB to the tune of Rs 14,000 crore through issuance of fraudulent Letters of Undertaking.

PNB scam: Nirav Modi declared as fugitive economic offender on plea of Enforcement Directorate
Business

PNB scam: Nirav Modi declared as fugitive economic offender on plea of Enforcement Directorate

A special court here on Thursday declared diamond businessman Nirav Modi, the key accused in the $2 billion Punjab National Bank (PNB) fraud case, a fugitive economic offender, on a plea of the Enforcement Directorate

PNB loan scam: Proclamation order issued against Nirav Modi, 2 others; trio directed to appear before Mumbai court by 15 January
Business

PNB loan scam: Proclamation order issued against Nirav Modi, 2 others; trio directed to appear before Mumbai court by 15 January

Modi and his uncle Mehul Choksi are the prime accused in the case, which is related to alleged fraudulent issuance of Letters of Undertaking that caused a loss of over $2 billion to PNB.

PNB scam: Bombay High Court asks ED on accused's role in fugitive economic offender proceedings
Business

PNB scam: Bombay High Court asks ED on accused's role in fugitive economic offender proceedings

The Bombay High Court on Tuesday sought to know from the Enforcement Directorate (ED) if an accused has the right to participate in proceedings before a special court to determine if he/she is a fugitive economic offender

Vijay Mallya denied permission to appeal against extradition by UK court; fugitive liquor baron can now appeal to Supreme Court
Business

Vijay Mallya denied permission to appeal against extradition by UK court; fugitive liquor baron can now appeal to Supreme Court

Mallya has been based in the UK since March 2016 and remains on bail on an extradition warrant executed by Scotland Yard in April 2017

Vijay Mallya tries to obfuscate again: Attachment of assets worth Rs 14,000 crore doesn’t mean justice has been served
Business

Vijay Mallya tries to obfuscate again: Attachment of assets worth Rs 14,000 crore doesn’t mean justice has been served

Vijay Mallya’s is an alleged heinous financial crime involving money laundering and gaming the banking system particularly loan sanctions to suit his ends.

'Damned if you do and damned if you don't is how I am treated,' says Vijay Mallya after sale of 74 lakh shares by debt recovery tribunal
Business

'Damned if you do and damned if you don't is how I am treated,' says Vijay Mallya after sale of 74 lakh shares by debt recovery tribunal

The ED had attached these shares under the Prevention of Money Laundering Act (PMLA) to ensure that they were not "alienated" or sold by Mallya

SBI plea to liquidate Vijay Mallya's properties to recover dues opposed in Karnataka High Court
Business

SBI plea to liquidate Vijay Mallya's properties to recover dues opposed in Karnataka High Court

Vijay Mallya left the country in early March 2016 and is currently fighting off extradition proceedings in the London high court.

Jet Airways saga: Why promoter Naresh Goyal must not just step down but exit the airline he founded
Business

Jet Airways saga: Why promoter Naresh Goyal must not just step down but exit the airline he founded

Etihad Airways has been insisting that Jet Airways' founder and Chairman Naresh Goyal must step down from the company's board and his stake should be slashed to 22% from 51% as a precondition for its heightened stakes.

PMLA court to announce verdict on Vijay Mallya case today; Will he be declared 'fugitive economic offender'?
Business

PMLA court to announce verdict on Vijay Mallya case today; Will he be declared 'fugitive economic offender'?

Vijay Mallya has been on bail since his arrest on an extradition warrant in April last year.

Vijay Mallya’s rise and fall: The story of Vittal Mallya’s flamboyant entrepreneur son who became an extradition candidate
Business

Vijay Mallya’s rise and fall: The story of Vittal Mallya’s flamboyant entrepreneur son who became an extradition candidate

Mallya could perhaps have avoided the ordeal had he chosen to stay back and fight the case. Even now, Mallya owes several months of salary dues to his employees, which has added to the public resentment against him.

Mumbai special court rejects Vijay Mallya's petition seeking stay on declaring him fugitive economic offender
Business

Mumbai special court rejects Vijay Mallya's petition seeking stay on declaring him fugitive economic offender

The decision from the judicature came after five parties, including a family member of Vijay Mallya, sought court dossiers with regard to the ED seeking to get Mallya declared a fugitive economic offender under the new law.

Bombay High Court rejects Vijay Mallya's plea for stay on Enforcement Directorate's request to declare him fugitive
Business

Bombay High Court rejects Vijay Mallya's plea for stay on Enforcement Directorate's request to declare him fugitive

Vijay Mallya remains on bail on an extradition warrant executed by Scotland Yard last year on fraud and money laundering charges brought by the Indian government, amounting to nearly Rs 9,000 crore.

PMLA court rejects Vijay Mallya plea seeking to stay attachment of his assets by Enforcement Directorate
Business

PMLA court rejects Vijay Mallya plea seeking to stay attachment of his assets by Enforcement Directorate

The special court had heard extensive arguments 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 Mallya's plea against Enforcement Directorate's proceedings for fugitive economic offender tag
Business

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

Enforcement Directorate 'resisted' his efforts to settle loans with PSBs, claims Vijay Mallya in PMLA court
Business

Enforcement Directorate 'resisted' his efforts to settle loans with PSBs, claims Vijay Mallya in PMLA court

Vijay Mallya, his now-defunct Kingfisher Airlines Limited and others availed loans from various banks and the outstanding amount, including interest, now stands at Rs 9,990.07 crore.

Vijay Mallya submits reply on ED's plea to declare him 'fugitive economic offender'; court to hear matter today
Business

Vijay Mallya submits reply on ED's plea to declare him 'fugitive economic offender'; court to hear matter today

In June, the ED moved a court against the liquor baron seeking to declare Mallya a 'fugitive offender' and to confiscate his assets worth Rs 12,500 crore

Sebi bans fugitive economic offender from making open offer; move to prevent individual from taking control of listed firm
Business

Sebi bans fugitive economic offender from making open offer; move to prevent individual from taking control of listed firm

In the event of failure of the delisting offer, SEBI has issued a framework for acquirers to fulfil the open offer obligations.