MUMBAI: A special PMLA court here on Wednesday fixed January 5, 2019 as the date for the final hearing on an application move by the Enforcement Directorate (ED) seeking to declare liquor baron Vijay Mallya as a ‘fugitive economic offender’.
To be able to confiscate Mallya’s properties worth 12,500 crore and expedite the process of his extradition from the UK, the ED had moved to the special court to declare him a ‘fugitive economic offender’ under the Prevention of Money Laundering Act (PMLA). After hearing the ED’s arguments and Mallya’s defence, the court had fixed Wednesday as the day of final verdict. But it was deferred for January 5.
The liquor baron is facing a money laundering case for his Kingfisher Airline’s loan default to the tune of Rs 9,000 crore.