Vijay Mallya the first-ever person in India to be declared as a fugitive economic offender
Vijay Mallya became the first-ever person in India to be declared
as a fugitive economic offender.
It was declared by a special court in Mumbai on 5 January 2019.
The absconding accused liquor baron Vijay Mallya as a fugitive economic offender
under the new Fugitive Economic Offenders Act.
He is the first person to be
declared so and the government can now confiscate his properties.
On 22 June 2018, the Enforcement Directorate (ED) had filed
an application at the PMLA (Prevention of Money Laundering Act) court to
declare Mallya a fugitive economic offender and sought orders to confiscate all
his properties estimated to be around Rs. 12,500 crore.