Court Declares Vijay Mallya A Fugitive Economic Offender

A special court in Mumbai on Saturday declared absconding liquor baron Vijay Mallya a fugitive economic offender on a plea by the Enforcement Directorate.

Mallya has become the first businessman to be declared fugitive economic offender under the provisions of the new Fugitive Economic Offenders Act which came into existence in August last year.

The Enforcement Directorate had requested the Prevention of Money Laundering Act court that Mallya, who is currently in the U.K., be declared a fugitive and his properties be confiscated and brought under the control of the Union government as per the provisions of the new FEO Act.

Special Judge MS Azmi declared Mallya a fugitive economic offender under Section 12 of the Act after hearing extensive arguments from Mallya’s lawyer and the ED counsel.

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