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PMLA court declares Vijay Mallya as proclaimed offender   

Newstrack

NewstrackBy Newstrack

Published on 15 Jun 2016 6:52 AM GMT

PMLA court declares Vijay Mallya as proclaimed offender   
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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.

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