Vijay Mallya Willing To Come Back To India And Face The Law
Vijay Mallya Willing To Come Back To India And Face The Law The “poster boy” of bank default Vijay Mallya, who has been the main accused in a Rs 9,000 crore alleged bank fraud case, is willing to come back to India and face the law, as per official sources. Mallya is said to have sent feelers to authorities that he would like to join the legal process in India and contest the recent action against him under the Fugitive Economic Offender Ordinance. As per the ordinance, the government can immediately confiscate all linked properties of Mallya in the India and worldwide. A special Prevention of Money Laundering Act court in Mumbai had last month issued summons to Mallya to appear before it on August 27. The central probe agency has also sought immediate confiscation of assets worth around Rs 12,500 crore of the business tycoon. If he does not appear before the court or respond to its summons on the designated date, Mallya risks being declared a fugitive economic offender. The liquor baron had said that he had written letters to both the prime minister and the finance minister on April 15, 2016, to explain his side of the story. Both the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have filed separate criminal cases of alleged loan default against him. -PTC News
