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A special PMLA court declared Vijay Mallya a fugitive economic offender on Saturday. His properties can now be confiscated by the government
India News: Vijay Mallya is the first person in the country to be declared a fugitive economic offender under the newly formed Fugitive Economic Offenders Act. Th
Special PMLA Court refused his application to stay the order to give him some time to appeal.
Vijay Mallya became the first tycoon to be charged under a new anti-fraud law, with a court in Mumbai today naming him as an offender under the Fugitive Economic Offenders Act, 2018. The anti-corruption court was hearing an application by the Enforcement Directorate, seeking a direction to declare Mr Mallya a fugitive economic offender.
This means Mallya's properties can now be confiscated by the government.