Court declares Vijay Mallya as ‘Fugitive Economic Offender’ below new law

New Delhi: A Special PMLA court on Saturday declared Vijay Mallya a fugitive economic wrongdoer below the Fugitive Economic Offenders Act, 2018.

The verdict of a special court for hindrance of cash wash act cases suggests that Mallya’s properties will currently be seized by the govt..
The court refused his application to remain the order to grant him it slow to attractiveness.

The ANti-corruption court was hearing an application by the social control board of directors, seeking a direction to declare Mallya a fugitive economic wrongdoer.

This new law to catch people that head for the hills abroad when committing monetary crimes was signed by the President in August 2018. It aims to prevent a growing range of high-profile economic offenders fleeing from the country to avoid proceeding.

Under the new law, a fugitive economic wrongdoer could be a person against whom AN warrant is issued for his/her involvement in economic offences a minimum of Rs a hundred large integer or additional and has left Bharat to avoid prosecution.

Last month, a UK court aforesaid Mallya are often extradited to Bharat to face legal actions for fraud investigations. he’s wished in Bharat for defaulting on Rs nine,000 large integer in loans to his unsuccessful coraciiform bird Airlines.(FA9NEWS)

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