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No Properties Other Than That Of Kingfisher Airlines Facing Cases Of alleged Irregularities Should Be Attached For Confiscation: Mallya Pleads To The Court

Courtesy/By: Gopalakrishnan.R.R | 29 Jul 2019

Troubled alcohol magnate Vijay Mallya on Saturday moved toward the Supreme Court looking for a stay on the appropriation of properties possessed by him and his relatives. In the request, Mallya has said that no properties other than that of Kingfisher Airlines confronting instances of supposed abnormalities ought to be joined.On July 11, the Bombay High Court had refused to give stay on procedures under the watchful eye of the special court on reallocation of Mallya's properties. The division bench of the court had expelled an application documented by Mallya a month ago, seeking a stay on the procedures under the watchful eye of the special court hearing cases relating to the Prevention of Money Laundering Act (PMLA).

Facing an extradition trial in the courts of the United Kingdom, Vijay Mallya, has also been charged a humongous amount of Rs 9000 crore as penalty by the Enforcement Directorate (ED), for defaulting repayment of bank loans. The courts have also begun to confiscate his properties. On 5^th January 2019, he was labelled a fugitive economic offender by the special Prevention of Money Laundering court.

Courtesy/By: Gopalakrishnan.R.R | 29 Jul 2019