SC to hear Vijay Mallya’s plea challenging confiscation of properties on August 2
In January this year, Mallya, had become the first businessman to be declared an FEO under the provisions of the new Fugitive Economic Offenders Act which came into existence in August 2018.
New Delhi: The Supreme Court will hear absconding liquor baren Vijay Mallya's plea seeking a stay on the confiscation of properties owned by him and his family members
Mallya said on Saturday approached the apex court seeking that it allows attachment of only those properties related to Kingfisher Airlines facing cases of alleged irregularities.
A consortium of banks led by the State Bank of India (SBI) had in 2016 filed a petition in the Supreme Court against Mallya for his failure to repay the loan amount of more than Rs 9000 crore to various banks. Mallya had allegedly failed to pay dues to more than 15 banks.
The liquor tycoon had taken loans in order to pay dues of his now-defunct Kingfisher Airlines.
The consortium of banks had urged the court to direct Mallya to return to India and repay the loan.
On July 11, the Bombay High Court had dismissed Mallya`s plea seeking stay on the procedure for the confiscation of his properties by government agencies.
Mallya had fled India in March 2016. In January this year, Mallya, had become the first businessman to be declared an FEO under the provisions of the new Fugitive Economic Offenders Act which came into existence in August 2018.
In June 2019, the Royal Courts of Justice, London, approved Mallya's plea to appeal against the extradition case. The appeal plea was filed by Mallya in April.
He remains on bail on an extradition warrant which was executed by Scotland Yard in April 2017. In 1992, an Extradition Treaty was signed by India and the UK and the treaty has been in force since November 1993.