Mallya declared fugitive economic offender: End of the road for liquor baron?

In a significant victory for the investigating agencies, a Mumbai Special Court on Saturday declared absconder liquor baron Vijay Mallya a 'fugitive' under the Fugitive Economic Offenders Act, 2018.

A Special Prevention of Money Laundering Act (PMLA) Court in Mumbai gave its verdict in a case filed by the Enforcement Directorate (ED) in June 2018.

In the first of its kind case under the FEOA, on June 22 last year, the ED moved the Special PMLA Court seeking to declare Mallya a 'fugitive economic offender' under the new act, to enable confiscation of all his properties, estimated at over Rs 12,000 crore.