Special Prevention of Money Laundridge Act Court has declared Vijay Mallya , liquor baron Vijay Mallya, who has fled India with a loan of more than 9,000 crores from several banks , as an economic fugitive criminal . After Vijay Mallya was declared a financial fugitive, the government will now have the right to seize his property. The hearing will be held on February 5 in the PMLA court for seizure of property of Vijay Mallya.
Not only this, the PMLA court also dismissed the demand for some time to appeal to Vijay Mallya. Explain that Vijay Mallya has been ordered by Westminster Court of London to extradite the UK government to India.
Who is the financial fugitive?
Under the new act, which is declared an economic fugitive, his property is seized immediately with immediate effect. The financial fugitive is the one against whom arrest warrants have been issued for the offenses committed. At the same time, such a person has left India, so that he can escape the criminal action happening here or he is abroad and refusing to come to India to avoid this action. Under this Ordinance, cases of fraud, check disrespect and loan defaults of more than Rs. 100 crores come.
loan, Kingfisher owner Vijay Mallya has been accused of having a loan of about Rs 9,990 crore from several banks. At present, Mallya is in London and has been ordered to extradite India. On the case of Mallya, the case was done by the CBI and ED by the Government of India.