Fugitive Economic Offenders Bill applicable with retrospective effect

The Cabinet on Thursday approved the Fugitive Economic Offenders Bill. The move comes in the wake of several alleged economic offenders like Nirav Modi and Vijay Mallya fleeing the country to avoid trial and prosecution.

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To seize assets of fleeing offenders, Centre comes with Fugitive Economic Bill

With the likes of Nirav Modi and Vijay Mallya fleeing the country after defrauding banks, the Fugitive Economic Bill is likely to be brought about by the Centre.

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India relies on ‘3 chapters of dishonesty’ while trying to extradite Mallya

mallyaThere were three chapters of dishonesty that was unveiled by the prosecution which is seeking the extradition of former liquor baron Vijay Mallya.

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Mallya laundered Rs 500 crore says ED

Vijay Mallya--621x414Rs 500 crore of the Rs 900 crore loan taken from the IDBI bank by former liquor baron Vijay Mallya had been laundered the Enforcement Directorate has said. This was stated in the affidavit filed by the ED in the UK before the Crown Prosecution Service.

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Vijay Mallya arrested in London, granted bail

vijay-mallya_4Former liquor baron, Vijay Mallya who was arrested in London has been granted bail. He was earlier arrested in connection with a a money laundering case.

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Mallya extradition hearing, India submits relevant papers

mallya-political-2_647_031116082604In a bid to extradite former liquor baron Vijay Mallya, India has submitted relevant papers before the Westminster Magistrates’ Court. The court is expected to hear the matter today.

ED to approach 6 nations to get details on financial dealings of Vijay Mallya

mallya2In a bid to dig out more details on the financial transactions of former liquor baron, Vijay Mallya, the Enforcement Directorate will approach six countries. The ED has decided to approach the United Arab Emirates (UAE), the US, France, Singapore, Ireland and Mauritius for details on Mallya’s properties, bank accounts and shell companies.

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ED files chargesheet against Vijay Mallya in Rs 900 crore IDBI case

mallya2The Enforcement Directorate has filed a chargesheet against liquor baron Vijay Mallya. The ED has been probing several cases against Mallya under various sections of the Prevention of Money Laundering Act.

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Media trial may affect Mallya’s extradition proceedings say officials

mallya-political-2_647_031116082604Home Ministry officials have expressed concern over the media trial of liquor baron Vijay Mallya. Home Ministry officials say that the media trial could affect the extradition proceedings that are on in London.

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Are Indians prompt in their response? UK judge on India’s delayed proof in Mallya case

mallyaMany in India are hoping that liquor baron Vijay Mallya would be extradited from the United Kingdom soon. While many claimed his brief arrest in the month of April as a major diplomatic victory for India, the fact of the matter is that the process from the Indian side has been delayed.

Chief magistrate Emma Arbuthnot at Westminster magistrates’ court noted that there were delays in the evidence arriving from the government of India. This observation was made after Aaron Watkins representing India said that the Crown Prosecution Service needed 4 weeks times to receive the rest of the evidence India and also to review it.