HC rejects Mallya’s plea for stay on ED’s request to declare him fugitive | Mint
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Business News/ Companies / People/  HC rejects Mallya’s plea for stay on ED’s request to declare him fugitive
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HC rejects Mallya’s plea for stay on ED’s request to declare him fugitive

The ED had filed an application before a special Prevention of Money Laundering Act court seeking the 'fugitive' tag for Vijay Mallya under the Fugitive Economic Offenders' Act, 2018

Vijay Mallya owes a consortium of banks around Rs 9000 crore. Photo: AFPPremium
Vijay Mallya owes a consortium of banks around Rs 9000 crore. Photo: AFP

New Delhi: Hours after Swiss bank UBS AG sought possession of fugitive liquor baron Vijay Mallya’s multi-million-pound Regent Park mansion in central London, which seats one of his prized possessions, a toilet seat made of gold, before the UK high court, the Bombay high court dismissed his plea seeking a stay on the Enforcement Directorate’s request to declare him a fugitive economic offender, and confiscate all his properties.

Mallya’s counsel Amit Desai on Thursday told a division bench of Justices R.M. Savant and V.K. Jadhav that his pleas should not be misunderstood as a ploy to run away from the proceedings. “We are also anxious to clear the dues and to see to it that the creditors get their dues back. We only do not want the properties to be seized by the ED which would then hamper the process of clearance of dues." The high court, however, said it was not inclined to grant any relief. The bench said the lower court shall hear the application filed by the ED on merits.

PTI contributed to this story.

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Published: 22 Nov 2018, 04:01 PM IST
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