New Delhi.05.Jan. 2019: The absconding liquor baron Vijay Mallya was declared fugitive economic offender by a special Prevention of Money Laundering Act (PMLA) court on Saturday.
This has paved the way for confiscation of Mallya’s properties by the government. The special PMLA Court has refused his application to stay the order in order to give him some time to appeal.
Reports said the beleaguered liquor baron is the first to be declared so under the newly formed fugitive economic offenders Act.
The Enforcement Directorate (ED) had filed an application before the special court requesting Mallya to be declared a fugitive under the Fugitive Economic Offenders’ Act, 2018.
As per the Act, a fugitive offender is a person against whom an arrest warrant has been issued in respect of a scheduled offence and who has left the country to avoid criminal prosecution.
Prasanta Patnaik