The Supreme Court Will Hear Today In The Case Of Confiscation Property Of Vijay Mallya

The Supreme Court will hear the plea of ​​fugitive liquor businessman Vijay Mallya on Tuesday. This petition has been filed against the proceedings initiated by the Enforcement Directorate (ED) by Mallya to seize his property in India. Explain that about six months ago, Vijay Mallya had approached the Supreme Court seeking a stay on the confiscation of all properties owned by him and his relatives. Earlier, he appealed in the Bombay High Court, which was dismissed.

In his plea, Mallya had said that he only wanted the attachment of the irregularities that belong to Kingfisher Airlines. It is to be known that Mallya was declared an economic fugitive by the PMLA (Prevention of Money Laundering Act) court in January 2019. Mallya is accused of running away with the banks of Rs 9000 crore. He fled to London only in March 2016.

Recently, Mallya said that he is ready to return the entire outstanding principal money of Indian banks. Mallya said this after a three-day debate on the appeal in the London High Court against the extradition order. Now Mallya can be decided at any time.

Speaking to the media outside the London High Court, Mallya had said that he is ready to repay his entire principal money by folding hands with Indian banks. Said, CBI and Enforcement Directorate (ED) in India have filed separate cases for recovery of the same amount. He is not being treated fairly in the process. Government agencies have been misbehaving with him for the last four years.

Both agencies have filed cases against Mallya under the bank’s loan fraud and money laundering laws. Has seized Mallya’s assets worth thousands of crores of rupees. Mallya owes Indian banks a debt of nine thousand crore rupees. Mallya is living in London to avoid paying off this debt. Whereas Indian agencies want to bring him to India and prosecute him and recover the dues of the banks.