Notice to ED on Mallya’s plea for stay

Under the Act, once a person is declared a fugitive economic offender, the prosecuting agency has the powers to confiscate his property.

Published: 08th December 2018 06:12 AM  |   Last Updated: 08th December 2018 06:12 AM   |  A+A-

Vijay Mallya. (File | AP)

By Express News Service

NEW DELHI:  Days before a UK court is to deliver the verdict on whether beleaguered businessman Vijay Mallya can be extradited to India to face charges of fraud and money laundering, the Supreme Court on Friday sought a response from the Enforcement Directorate on his plea challenging the ongoing proceedings in a Mumbai court to declare him a fugitive economic offender and confiscate his properties.

While issuing notice to the probe agency, a bench headed by Chief Justice of India Ranjan Gogoi refused to stay the proceedings before a special Prevention of Money Laundering Act court in Mumbai on ED’s plea seeking the ‘fugitive’ tag for Mallya under the Fugitive Economic Offenders Act, 2018.

Under the Act, once a person is declared a fugitive economic offender, the prosecuting agency has the powers to confiscate his property.  Mallya, who fled to the UK in March 2016, is wanted in India for the default of `9,000 crore loaned by banks to Kingfisher Airlines. The UK court is set to deliver the extradition verdict on Monday.

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