WORLD
UNDER NEW LAW
Vijay Mallya becomes first ‘fugitive economic offender’
- TEAM PT
Vijay Mallya becomes first ‘fugitive economic offender’



ABSCONDING LIQUOR BARON Vijay Mallya became the first tycoon to be charged under a new anti-fraud law, with a court in Mumbai today naming him as an offender under the Fugitive Economic Offenders Act, 2018.
 
The anti-corruption court was hearing an application by the Enforcement Directorate, seeking a direction to declare Mallya a fugitive economic offender.
 
Special judge MS Azmi declared Mallya an FEO under Section 12 of the Act after hearing extensive arguments from the lawyer of Mallya and the ED.
 
The Enforcement Directorate (ED) had filed an application before the court in November, requesting to declare Mallya, who is facing charges of financial irregularities, a fugitive under the Act. "It is only to aid the agency to bring somebody back to the country to face the law here,” the ED counsel had said.

Mallya through his lawyers had told the court that he had not fled the country but had left to attend a meeting held in Geneva, Switzerland on March 4, 2016, at the World Motor Sport Council. He added that he had attended the meeting as part of the ‘ordinary course’ of his business activities, stating that the warrant in the criminal offence against him was only issued subsequently.
 
Over the last few months, several high-profile businessmen including Nirav Modi and Mehul Choksi have been under the government's radar for alleged financial crimes running into thousands of crores.
------
On Friday Parliament was informed that twenty-seven defaulting businessmen and economic offenders have fled the country in the last five years.
------
The new law to catch people who flee abroad after committing financial crimes was signed by the President in August last year. It was aimed at stopping a growing number of high-profile economic offenders feeling the country to avoid legal action.
 
Under the provisions of the Act, a Fugitive Economic Offender is a person against whom an arrest warrant has been issued in respect of a scheduled offence and who has left India so as to avoid criminal prosecution, or being abroad, refuses to return to India to face criminal prosecution. Once the person is declared a fugitive economic offender, the prosecuting agency has the powers to confiscate his properties.

The fugitive tycoon was arrested in the UK last year and immediately granted bail. The Westminster’s court in the United Kingdom last month said Mallya can be extradited to India to face fraud investigations. He is wanted in India for defaulting on Rs. 9,000 crore in loans to his failed Kingfisher Airlines.
 
Last year in December, Mallya had moved the Supreme Court, challenging the proceedings in the Mumbai court to declare him an offender. Prior to that, his counsel had argued that he cannot be declared one as he was arrested in the United Kingdom and was facing an extradition trial there.

In November, the Bombay High Court had refused to stay the hearing in ED’s petition to declare Mallya a fugitive economic offender. Mallya had approached the high court after the trial court refused to grant him a stay until a hearing on the attachment of his property is over before an appellate tribunal in Delhi.
 
On Friday Parliament was informed that twenty-seven defaulting businessmen and economic offenders have fled the country in the last five years.
 
Interpol has been approached to issue red corner notices (RCNs) against 20 persons out of these 27, Minister of State for Finance Shiv Pratap Shukla said in a written reply in Lok Sabha. 
 

Disclaimer : PunjabToday.in and other platforms of the Punjab Today group strive to include views and opinions from across the entire spectrum, but by no means do we agree with everything we publish. Our efforts and editorial choices consistently underscore our authors' right to the freedom of speech. However, it should be clear to all readers that individual authors are responsible for the information, ideas or opinions in their articles, and very often, these do not reflect the views of PunjabToday.in or other platforms of the group. Punjab Today does not assume any responsibility or liability for the views of authors whose work appears here.

_______________________________________________________________

Most shared Punjab Today articles:
 

Three Women of 1984  

FROM 1984 TO BARGARI - Hurt & angry, we’ve tried rage, anger. Did we miss karuna?   

REVISITING 1984 – RIOT AROUND A POLE     

1984 ANTI SIKH VIOLENCE – 34 YEARS OF KADDU FARMING     

WINDS OF CHANGE — What should be Amarinder Singh’s gameplan?      

KARTARPUR SAHIB: A CLARION CALL FOR PEACE IN AN AGE OF CYNICISM

DISSECTING POLITICS OF SELECTIVE SILENCE

CONGRESS IN SGPC - Tript Rajinder Bajwa marks 60 years of this Congress dream

THE ADHAR CARD-YUKT JASOOS - THE FOUR MUSKETEERS OF IB

Amarinder Singh, the coup in the CBI & the ED case: Headline is missing, so please read it between the lines

COP Vs. COP IN PUNJAB: Saiyan Bhaye Kotwal Ab Dar Kahe Ka

SURGICAL STRIKE DAY & WE THE PEOPLE The story of the gate is not the story of the house

Akali Dal's attempt to brand Navjot Sidhu as anti-national & ISI agent is ridiculous

UNHOLY HASTE To save the faith

Hua Panthik-Panthik Punjab - How do we reclaim real politics?

The Yuba City Attack on Manjit Singh GK & General Sambit Patra

Pakistan, Navjot Sidhu & the hug: Amarinder Singh 2018 is opposing Amarinder Singh 2004

Amarinder, Badals, AAP — Every party in Punjab is now an Akali Dal

Paragraphs that went missing from PM’s Red Fort speech could have pre-empted Opposition attack

Welcome to 1947. Happy Independence Day. Would you like to step out?

Mr SY Quraishi, can you please help to save this pet dog locked inside this sealed building?

In Pakistan, a donkey pays for democracy – bleeding, its nostrils ripped apart

Punjab is Silent as India Wakes Up to Talk of Refugees

AAP-CONG ALLIANCE: ARREY BHAI, YEH KYA LIKH DALA?

STRANGE BEDFELLOWS PLANNING HONEYMOON? 

WOOING THE PANTH: Amarinder a little less Congressy, Akali Dal a little more saffron

DEATH EMBRACING LOGIC: Drugs in Punjab

PANJAB'S EMERGENCY: FORMAL AND INFORMAL

THE KASHMIR GOVERNOR, THE TRIBUNE TRUST & ETHICS - How Journalism Fails Readers?

"Congress Sikhan Di Dushman Jamaat Hai?” —Akalis need to dump broken record, shift gears

"Captain Amarinder Singh ji” and "Rahul”: Reading Sign Language In A Relationship

SARKAR IN MANALI: From Shahkot to Mohali Court, Sara Alam Bigrra Jaye

If it could happen to Arun Shourie, imagine what could they do to you?

SIKHS & FEMINISTS – We hailed Harjit Sajjan; they didn’t hail Gina Haspel

AFTER BEING RAPED, I WAS WOUNDED; MY HONOUR WAS NOT

The Comrade In Punjab - Lost, Irrelevant, Asleep, Even Bored!

WE MISSED A REVOLUTION, BUT CAN IT STILL BE A GAME CHANGER?

A POLITICIAN SPEAKS – YOU SHOULD HEAR

ENCOUNTER, JULOOS & SELFIES

SOWING ANGER - NO QUICK FIX - Democracy is an Empty Ritual in Punjab

OUT-OF-BOX SOLUTION TO STOP FARMERS' SUICIDES

WATERS ROYALTY - The Loot that Rajasthan Committed

'THORRI BAHUTI EHNA NU SHARAM AUNI CHAHEEDI HAI'

ASSEMBLY COMMITTEE ON SUICIDE-HIT BATS FOR AARHTIYAS

RANGROOT OFFERS A PEEK INTO PUNJAB'S TRAGEDY

WHAT MAKE NEWS IN INDIA, AND WHAT DOES NOT?

HITLER, MODI & GANDHI: ON THE SAME PAGE?

PUNJAB IS STILL VERY FAR FROM INDIA

APOLOGY – AKALIS BIG LOSER, CONG TOO 

AMARINDER GOVT's LOVE FOR FARMERS, AND MY DAD's FOR HIS SCOOTER

SUPER EFFICIENCY ONBOARD CM’S CHOPPER

OF SUNNY KID & HORSE SENSE: The Punjab-Punjab Ties: The Coordinated Silence of Amarinder Singh & Badals

PM MODI VINDICATES PUNJAB TODAY REPORTAGE

NEW DELHI V/S OTTAWA — WILL QUEBEC DEFEAT INDIA?        

A SAFFRON JOURNEY VIA CANADA - Trudeau came to Punjab, pushed Amarinder closer to BJP, then called him a liar

JASPAL ATWAL CONTROVERSY: Mr. Ujjal, will you throw some light on this too?   

TRUDEAU VISIT AND RIGHT-WING MEDIA MACHINE

J&K – RAM MADHAV LEAVES SPACE FOR MEHBOOBA’S POLITICS

SHEKHAR GUPTA'S HALF-BAKED TRUTHS 

OF NIRMAL SINGH'S EYES - Karze Ne Layee Ikk Hor Kisan Di Jaan...

PNB Scam: Who is Nirav Choksi and what he is doing In the name of God?

Congress upset due to Priyanka’s cleavage on calendar 

RENUKA'S LAUGHTER: Thank you for your guffaws. We needed this non-violent weapon.

MR CLEAN to PAKKE DHEETH: How Punjab’s Congress hurt Brand Rahul Gandhi? 

MANJIT SINGH CALCUTTA– THE DISSENTER

PUNJAB FARMERS AND IPL CRICKETERS - Finally, they can stand like equals

Mr. CHIEF MINISTER, PLEASE CALL OFF JANUARY 7 FUNCTION. My teacher is not alive, but you please call it off!

SUKHBIR IS RIGHT – On 97th anniversary  Panth Khatre Vich Hai. Where does this threat come from?

THE FINAL HONESTY CERTIFICATE: ISSUED BY THE TRIBUNE

NO TIME TO READ THIS STORY? – That’s OK - Please do not feel guilty 

BAD, BAD WOMAN! – Punjab’s top playwright slams woman complainant against Langah

MR PRESIDENT, PLEASE TAKE BACK HIS GALLANTRY MEDAL – On Amod Kanth’s badge of shame

RELAX! ALL 30 WERE DERA PREMIS – Panchkula says something stinking about its conscience

PUNJAB: AN IDEA IN SEARCH OF WORDS: Punjab, more than a poster boy of progress or a renegade from modernity

_______________________________________________________________


Punjab Today believes in serious, engaging, narrative journalism at a time when mainstream media houses seem to have given up on long-form writing and news television has blurred or altogether erased the lines between news and slapstick entertainment. We at Punjab Today believe that readers such as yourself appreciate cerebral journalism, and would like you to hold us against the best international industry standards. Brickbats are welcome even more than bouquets, though an occasional pat on the back is always encouraging. Good journalism can be a lifeline in these uncertain times worldwide. You can support us in myriad ways. To begin with, by spreading word about us and forwarding this reportage. Stay engaged.

— Team PT






Comment

your name*

email address*

comments*
You may use these HTML tags:<p> <u> <i> <b> <strong> <del> <code> <hr> <em> <ul> <li> <ol> <span> <div>

verification code*
 







MOST VISITED
YOU MAY LIKE

TOPIC CLOUD

TAGS CLOUD

ARCHIVE




Copyright © 2016-2017







NEWS LETTER