Years of chasing Mr. Vijay Mallya for loan default has again turned futile to label him a fugitive. The liquor Baron responded to the ED’s accusations tactfully and challenged the matter in high court thereby bringing a stay in the case.
As a reply, Mallya has ascertained that one can be labeled as a ‘fugitive’ only if he has fled the country to avoid proceedings. In his case, he is an NRI and has not ‘fled’ the country.
Mallya claims he is legally entitled to live as an NRI abroad.
He cannot be denied of his right.
The liquor baron is accused of defaulting approx. INR 9000 crore loan from various banks. He adds that his default was prior to the Act being enforced. Hence not applicable to him.
With 28th September set as the next date for hearing on the intervention plea, the main application to declare him a Fugitive will succeed only after the order being passed on the intervention plea.
Currently, Mallya is being tried under the PMLA Act (The Prevention of Money Laundering Act) 2002. So far Mallya has been cooperating with the authorities in the UK, at the behest of the Indian government.