Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Vijay Mallya Left Country in 'Normal Course', His Lawyer Tells Court

Mallya is accused by the ED of defaulting on bank loans to the tune of Rs 9,000 crore. He is also accused of diverting some of the loan amount.

PTI

Updated:November 29, 2018, 11:05 PM IST
facebookTwitterskypewhatsapp
Vijay Mallya Left Country in 'Normal Course', His Lawyer Tells Court
File photo of liquor baron Vijay Mallya.
Loading...

Mumbai: Industrialist Vijay Mallya left the country in "normal course" and not under suspicious circumstances as claimed by investigating agencies, his lawyer told a court here Thursday.

A special court for Prevention of Money Laundering Act (PMLA) cases is hearing the Enforcement Directorate's (ED) plea to declare Mallya a fugitive under the Fugitive Economic Offenders (FEO) Act.

Arguing before judge MS Azmi, Mallya's lawyer Amit Desai said his client is a non-resident Indian (NRI) with a permanent address in London and he had substantial business overseas as well as in India.

Mallya is accused by the ED of defaulting on bank loans to the tune of Rs 9,000 crore. He is also accused of diverting some of the loan amount.

Advocate Desai, while opposing the ED plea, said that Mallya had cooperated with the Debts Recovery Tribunal in its proceedings in relation to the loans given to his firms.

He left the country for London on March 2, 2016 via Germany, where he attended a conference of World Motorsports as a director, Desai said. Mallya was then one of the owners Force India, a Formula One team, he added.

The investigating agencies had claimed that he left the county under suspicious circumstances.

Desai, however, argued that "Mallya left the country in normal course and before any case was registered against him."

Further, FEO Act is a draconian law as it permits confiscation of a person's property even before the trial starts, he said.

"As per the criminal procedure, property is confiscated only after the accused is held guilty. Under this law, the question of confiscation of property comes even before the first witness is examined," he said.

ED counsel D P Singh rebutted Mallya's defence that he cannot return to India because of the conditions of the bail granted by a court in the United Kingdom which restrain him from leaving the country.

Mallya can give an undertaking before the UK court that he wants to return to India, Singh said.

The arguments will continue on Friday.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results