News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 4 years ago
Rediff.com  » Business » SC judge opts out of hearing Mallya's plea against ED move

SC judge opts out of hearing Mallya's plea against ED move

Source: ANI   -  Edited By: Saisuresh Sivaswamy
January 20, 2020 17:26 IST
Get Rediff News in your Inbox:

Supreme Court judge Justice Rohinton Fali Nariman on Monday recused himself from hearing liquor baron Vijay Mallya's petition against the confiscation of his properties by the Enforcement Directorate. 

IMAGE: Vijay Mallya. Photograph: PTI Photo.

The apex court directed the matter to be listed before an appropriate bench. 

In the petition filed last year, Mallya submitted that no properties other than those related to Kingfisher Airlines, which is facing cases of alleged irregularities, should be attached. 

On January 1, the Prevention of Money Laundering Act (PMLA) court in Mumbai, which deals with offences related to money laundering, allowed banks which had lent money to Mallya to utilise the seized assets, Enforcement Directorate (ED) sources had said. 

 

According to sources, the seized assets mainly comprise financial securities such as shares. 

On July 11 last year, the Bombay high court had dismissed Mallya's petition seeking a stay on the procedure for the confiscation of his properties by a government agency. 

A special PMLA court had on January 5 declared Mallya a fugitive economic offender and directed that the properties of the 63-year-old be confiscated. He had fled the country in March 2016 and has been living in the United Kingdom since then.

Get Rediff News in your Inbox:
Source: ANI  -  Edited By: Saisuresh Sivaswamy
 

Moneywiz Live!