‘Issue Needs To Be Put To An End’: Bombay HC On Vijay Mallya Asset Row

The
Bombay
High
Cou t
o
Wed esday
said
the
lo g- u i g
dispute
ove
the
ecove y
of
dues
f om
Vijay
Mallya
eeds
to
“be
b ought
to
a
e d& dquo;
afte
his
lawye
told
the
cou t
that
a
2020
petitio
challe gi g
the
seizu e
of
his
assets
had
become
edu da t
i
light
of
developme ts
ove
the
past
six
yea s.

Mallya& squo;s
o igi al
petitio
challe ged
a
o de
of
a
special
P eve tio
of
Mo ey
Lau de i g
Act
(PMLA)
cou t
allowi g
a
co so tium
of
le de
ba ks
led
by
the
State
Ba k
of
I dia
(SBI)
to
use
assets
co fiscated
by
the
E fo ceme t
Di ecto ate
(ED)
to
ecove
his
u paid
dues.

Mallya
Says
2020
Petitio
No
Lo ge
Su vives

Se io
advocate
Amit
Desai,
appea i g
fo
Mallya,
told
the
cou t
that
the
petitio
was
filed
i
2020
whe
settleme t
discussio s
we e
u de way
a d
sought
p otectio
fo
ce tai
assets.

Howeve ,
Desai
said
the
petitio
o
lo ge
su vived
as
most
of
the
assets
efe ed
to
i
it
had
al eady
bee
attached
a d
dealt
with.

The
be ch
appea ed
to
ag ee
with
the
submissio .
Justice
Jadhav
obse ved,
“Actually,
this
issue
eeds
to
be
put
to
a
e d.
The
idea
is
to
move
o …
othe wise
the
elatio s
a d
the
eco omy
of
the
cou t y
suffe .& dquo;

The
cou t
di ected
the
ED
to
file
a
affidavit
cla ifyi g
whethe
the
settleme t
p ocess
had
co cluded
a d
whethe
“eve ythi g
is
do e
a d
dusted& dquo;.

The
cou t,
howeve ,
made
it
clea
that
this
would
have
o
bea i g
o
the
c imi al
p osecutio
agai st
Mallya,
which
must
still
be
“take
to
its
logical
e d.& dquo;

The
high
cou t
said
it
would
dete mi e
the
fu the
cou se
of
actio
afte
hea i g
the
co ce ed
ED
deputy
di ecto .

Mallya
Claims
Ba ks
Recove ed
Rs
15,000
C o e

Desai
a gued
that
Mallya’s
civil
liabilities
had
ow
bee
settled.
He
said
it
was
u fo tu ate
that
public
secto
ba ks
we e
keepi g
the
matte
pe di g.

Acco di g
to
Desai,
ba ks
had
al eady
ecove ed
a ou d
Rs
15,000
c o e
f om
Mallya
agai st
the
o igi al
claimed
dues
of
Rs
6,203.35
c o e
plus
i te est.

“Public
secto
ba ks
keepi g
this
matte
pe di g
is
u fo tu ate,& dquo;
Desai
said.

“The
RBI
audit
itself
says
it& squo;s
a
ai li e& squo;s
busi ess
failu e
a d
othi g
else.
Ba ks
have
take
away
Rs
15,000
c o e
a d
ow
they
say
so y.
That& squo;s
ot
good
e ough,& dquo;
he
added.

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ED
Had
Clea ed
Way
Fo
Asset
Liquidatio

I
Feb ua y
2019,
the
ED
told
the
special
PMLA
cou t
that
it
had
o
objectio
to
the
SBI-led
co so tium
liquidati g
Mallya’s
co fiscated
assets
to
ecove
the
outsta di g
debts.

Mallya
had
bee
decla ed
a
fugitive
eco omic
offe de
i
Ja ua y
2019.

Mallya
Faces
Multiple
Cases,
Ext aditio
P oceedi gs

Mallya
is
faci g
multiple
legal
cases
i
I dia
elati g
to
alleged
loa
defaults,
f aud,
mo ey
lau de i g
a d
fi a cial
i egula ities
li ked
to
those
loa s.

I
July
2015,
the
Ba ki g
Secu ities
&
F aud
Cell
of
the
Ce t al
Bu eau
of
I vestigatio
egiste ed
a
FIR
agai st
him
ove
alleged
i egula ities
i
loa s
take
by
Ki gfishe
Ai li es
f om
a
co so tium
of
ba ks
led
by
IDBI
Ba k.
He
was
cha ged
with
c imi al
co spi acy,
c imi al
b each
of
t ust
a d
c imi al
misco duct.

Mallya
left
I dia
i
Ma ch
2016
amid
mou ti g
legal
p essu e
a d
has
emai ed
i
the
U ited
Ki gdom
si ce
the .
He
has
bee
co testi g
his
ext aditio
to
I dia
to
face
the
c imi al
cha ges.

Followi g
the
e actme t
of
the
FEO
Act
i
2018,
p oceedi gs
we e
i itiated
agai st
Mallya
u de
the
law,
p ompti g
him
to
app oach
the
high
cou t.

Although
UK
cou ts
have
app oved
his
ext aditio
to
I dia,
Mallya
has
co ti ued
to
emai
i
the
UK
by
pu sui g
what
has
bee
desc ibed
as
a
“co fide tial
legal
matte & dquo;.
This
is
widely
u de stood
to
efe
to
a
applicatio
fo
political
asylum.

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