<span style="color: #222222;">Supreme Court will hear today a petition filed by fugitive businessman Vijay Mallya seeking a stay on the confiscation of properties owned by him and his relatives. In his petition, Mallya said that no other properties other than that of Kingfisher Airlines facing cases of alleged irregularities should be attached.<br />''<br />''On July 11, Bombay High Court had refused to grant stay on proceedings before a special court on confiscation of Mallya's properties. A division bench of the court had dismissed an application filed by Mallya last month, seeking a stay on the proceedings before the special court hearing cases pertaining to the Prevention of Money Laundering Act (PMLA).<br />''<br />''On January 5 this year, the special PMLA court in New Delhi declared Mallya a fugitive economic offender. The court then started proceedings for confiscation of his properties.<br />''<br />''Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) of defaulting on bank loans to the tune of 9,000 crore rupees. He is also facing an extradition trial in UK.</span><br />
News On AIR | July 29, 2019 8:42 AM
SC to hear Vijay Mallya's plea seeking stay on confiscation of properties