New Delhi, July 26: The Parliament on Wednesday passed a bill that seeks to prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country and evading the legal process.
New Delhi, July 25: Vijay Mallya is said to have indicated that he is willing to return to India. He is reportedly in talks with the Indian government and has indicated that he would want to come back to India.
New Delhi, July 5: The Bengaluru police through the Enforcement Directorate have submitted a report relating to Vijay Mallya before the Patiala House court in New Delhi. In its report, several of Mallya’s properties have been identified.
New Delhi, July 6: The Indian banks scored a major victory after a UK High Court judge issued an enforcement order permitting a consortium of 13 banks to recover funds owned to them by former liquor baron, Vijay Mallya.
Mumbai, June 30: A special court has summoned former liquor baron, Vijay Mallya to appear before it on August 27. The order was passed under the Fugitive Economic Offenders Act.
A special court in Mumbai has ordered the arrest of fugitive liquor baron Vijay Mallya for his alleged involvement in a case of money laundering and cheating a consortium of banks of over Rs 6,000 crore.
The Enforcement Directorate on Monday charged former liquor baron Vijay Mallya and his two firms for fraudulently “diverting” over Rs 3,700 crore bank loan funds to a UK-based F1 motorsport firm, a T20 IPL team, and for enjoying private jet sorties.
Absconding former liquor baron, Vijay Mallya will become the first test case for the new Fugitive Economic Offenders Act. The Enforcement Directorate will move the designated court seeking to declare Mallya as a fugitive.
Nirav Modi joined the long list of Indian fugitives to take refuge in the United Kingdom. He now joins an infamous bandwagon comprising, Lalit Modi, Vijay Mallya, music composer Nadeem among others.
The Enforcement Directorate would move a special court to get Vijay Mallya declared as a Fugitive Economic Offender. If the ED’s plea is granted then Mallya loses control over all his properties and assets in India.