- Tag results for Vijay Mallya
The Bill allows for a person to be declared as a fugitive economic offender if an arrest warrant has been issued against him for any specified offences where value involved is over Rs 100 crore.
Initiating the discussion on the of Fugitive Economic Offenders Bill, 2018, Revolutionary Socialist Party (RSP) member N.K. Premchandran said he supported the provisions of the bill.
The former defence minister also ridiculed the Congress for questionning the veracity of the surgical strike conducted by the Army in the PoK in 2016.
The Shiv Sena editorial said that while PM Modi claims to fight against corruption in his speeches, on the other hand, his party leaders consider absconding money launderers as idols.
Jual Oram had described fugitive Vijay Mallya as smart at the National Tribal Entrepreneurs Conclave on Friday.
Last month, Mallya made a third offer to fall in line and pay up dues, but bankers ruled out that option, as the case is now being dealt under the Fugitive Economic Offenders Act.
India wants to extradite the 62-year-old former liquor baron from Britain to face charges of fraud as a group of Indian banks seek to recover more than USD1 billion of loans.
Making his first public appearance at a Grand Prix since last year's race at Silverstone, Mallya spoke out during a news conference.
The consortium of 13 banks are seeking to recover funds owed to them by Mallya who is fighting extradition to India to face trial for fraud and money laundering charges worth nearly Rs 9,000 crore.
ED's special public prosecutor N K Matta told the court that the agency needed more time to identify other properties of Mallya which can be attached.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
According to the retired diplomat, it is a lack of trust on both sides that is holding the relationship back.
After four unsuccessful bids, the transaction was completed last Friday through an e-auction following a Karnataka High Court order.
If Mallya does not appear before the designated court within the given time, he will be declared as a 'fugitive' and ED will move to confiscate his assets worth Rs 12,500 crore, the court stated.
Liquor baron Vijay Mallya's retaliation came after an ED official dismissed the former's offer to settle all dues if his seized assets were freed up.