Mumbai Special Court declares Vijay Mallya 'fugitive' under FEO Act, 2018
In a significant victory for the investigating agencies, a Mumbai Special Court on Saturday declared absconder liquor baron Vijay Mallya a "fugitive" under the Fugitive Economic Offenders Act, 2018. A Special Prevention of Money Laundering Act (PMLA) Court in Mumbai gave its verdict in a case filed by the Enforcement Directorate (ED) in June last year.
In the first of its kind case under the FEOA, on June 22 last year, the ED moved the Special PMLA Court seeking to declare Mallya a 'fugitive economic offender' under the act to enable confiscation of all his properties, estimated at over Rs 12,000 crore.
(With inputs from agencies.)
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