<span style="color: #222222;">A special court in Mumbai today declared absconding liquor baron Vijay Mallya a fugitive economic offender (FEO) on a plea of the Enforcement Directorate.</span><br />'' <br />'' <span style="color: #222222;">Mallya has 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 last year.</span><br />'' <br />'' <span style="color: #222222;">The ED had requested the Prevention of Money Laundering Act (PMLA) court that Mallya, who is currently in the UK, be declared a fugitive and his properties be confiscated and brought under the control of the Union government as per the provisions of the new FEO Act.</span><br />'' <br />'' <span style="color: #222222;">Special judge MS Azmi declared Mallya an FEO under Section 12 of the Act after hearing extensive arguments from the lawyer of Mallya and the ED counsel.</span><br />'' <br />'' <span style="color: #222222;">Mallya, accused of defaulting on loan repayments and money laundering, had left India in March 2016.&nbsp;</span>
News On AIR | January 5, 2019 5:13 PM
Special court in Mumbai declares Mallya a fugitive economic offender