Vijay Mallya declared a proclaimed offender

A Prevention of Money Laundering Act court on Tuesday declared liquor baron Vijay Mallya a proclaimed offender in an alleged bank loan fraud case.

On June 10, the Enforcement Directorate (ED) moved the court seeking to declare Mr. Mallya a proclaimed offender, as multiple warrants and a non-bailable warrant had been issued against him and that he had not paid millions of dollars due to several firms.

As per Section 82 of the Code of Criminal Procedure, Mr. Mallya should be termed a proclaimed offender, the ED said.

Cases of cheque-bouncing and loan default to the tune of Rs. 900 crore taken from IDBI Bank for Kingfisher Airlines have been registered against Mr. Mallya.

Kindly send reply or comments on this topic to reporter@newsforyou.in
Source:Thehindu

Vijay Mallya