PMLA court declares Vijay Mallya as proclaimed offender   

Mumbai: Business tycoon Vijay Mallya, who owes more than Rs. 9,000 crore from 17 banks, has been declared proclaimed offender in an alleged Rs. 900 crore loan default case by a Prevention of Money Laundering Act (PMLA) court after being requested by the Enforcement Directorate (ED). The action will make enforcement of London resided Mallya, easy.

The whole matter-

• Liquor industrialist Mallya took the loan of more than nine thousand crore.
• This also includes the loan of 900 crore, which was taken from IDBI bank.
• He also remained absent even after being summoned three times from ED.
• Then, ED approached PMLA court, to declare him as proclaimed offender.
• The court had issued the warrant against Mallya.

Now, enforcement will be an easy task-

• Mallya has been given a deadline of 30 days, during which, he has to appear before the PMLA court and the investigating agency.
• Britain government can extradite him to India.
• ED had already seized Mallya’s Rs. 1411 crore property.
• Mallya was selling his property.