INSUBCONTINENT EXCLUSIVE:
ANI |
Updated: Jan 20, 2020 00:56 IST
New Delhi [India], Jan 20 (ANI): The Supreme Court will on Monday hear the fugitive liquor baron Vijay Mallya's plea, seeking
a stay on the confiscation of properties owned by him and his relatives
In the petition filed last year, Mallya submitted that no properties other than those related to Kingfisher Airlines, which is facing cases
of alleged irregularities, should be attached.On January 1, the Prevention of Money Laundering Act (PMLA) court in Mumbai which deals with
offences related to money laundering allowed banks which had lent money to Mallya to utilise the seized assets, Enforcement Directorate (ED)
sources had said.According to sources, the seized assets mainly comprise of financial securities, such as shares.On July 11, the Bombay High
court had dismissed Mallya's petition seeking a stay on the procedure for the confiscation of his properties by a government agency.A
special PMLA court had on January 5 declared Mallya a fugitive economic offender and directed that the properties of the 63-year-old be
He had fled the country in March 2016 and has been living in the United Kingdom since then
