Mallya turns to SC to stop ED from tagging him as ‘fugitive’
New Delhi: The Supreme Court agreed to hear a petition by liquor baron Vijay Mallya on Friday, challenging the Enforcement Directorate’s move to declare him a fugitive economic offender. However, the apex court refused to stay proceedings pending against him in a Mumbai court.
The Fugitive Economic Offenders (FEO) Act 2018 introduced in July 2018 is more draconian than the existing Prevention of Money Laundering Act as the Enforcement Directorate can “immediately” attach the properties of a person once s/he is declared by the Special PMLA court as a fugitive economic offender under the new law.
Ever since ED moved the application under the new act to attach Mallya’s assets worth Rs 12,500 crore, the London-based business tycoon has lost his peace. Being the first person to face the wrath under the new law, Mallya has resorted to legal means to delay proceedings. He moved an application before the Special Court judge for stay of proceedings. On October 30, the special court turned down his request, forcing him to approach the Bombay High Court with a similar prayer. After High Court dismissed his plea on November 22, the appeal was filed in the apex court.
Appearing for Mallya, senior advocate Fali S Nariman told a bench headed by Chief Justice Ranjan Gogoi that the assets sought to be attached are already under attachment orders passed by the ED as per PMLA proceedings. Turn to P4
DNA Money Correspondent