Finance
Vijay Mallya declared a Fugitive Economic Offender, first to be charged under the Fugitive Economic Offenders Act
Vijay Mallya became the first person to be declared a fugitive offender under the Fugitive Economic Offenders Act on January 2, 2019. The decision was declared by a special PMLA court in Mumbai, which ruled in favour of an application moved by the Enforcement Directorate. It will allow the investigative agency to seize all his properties under the new law.
The order was passed under Section 2F of FEOA against Mallya by the PMLA court. Under the new particular law, any person who has travelled outside the country after committing an economic fraud and refused to appear before the court to face trial or those who been issued non-bailable warrants could be declared as fugitive economic offenders.
The investigative agency can now seize properties of Vijay Mallya which are not directly related to the cases against him. It will include his properties in Karnataka, United Kingdom and others that are yet to be seized.
Indian authorities have been trying to extradite Mallya from UK since he fled the country on March 2, 2016. However, the things went wrong completely against Mallya when the London court issued an order giving consent to his extradition last month.