SC won’t stay ED process to declare Mallya ‘fugitive’

Tribune News Service
New Delhi, December 7

The Supreme Court today refused to stay proceedings initiated by the Enforcement Directorate in a Mumbai special court to declare him a fugitive economic offender and confiscate his assets.

A Bench headed by Chief Justice of India Ranjan Gogoi, however, asked the ED to respond to Mallya’s petition challenging the proceedings in a Prevention of Money Laundering Act (PMLA) court to declare him fugitive under the Fugitive Economic Offenders’ Act, 2018.

Mallya, who fled to the UK in March 2016, is wanted in India for defaulting on loans of Rs 9,000 crore taken from several public sector banks for his Kingfisher Airlines (KFA). He is facing extradition proceedings in the UK where a court had in September fixed December 10 to decide if he could be extradited to India to face trial. Once he is declared a fugitive economic offender under the Fugitive Economic Offenders’ Act, 2018, the ED can attach his property.

The Bench asked the ED to respond to Mallya’s petition barely few seconds after senior advocate Fali S Nariman raised the issue on his behalf.

Mallya has challenged a Bombay HC order rejecting his plea for a stay on PMLA court’s proceedings to declare him a fugitive economic offender. On October 30, the PMLA court had rejected Mallya’s plea forcing him to move the high court.