Fugitive businessman Vijay Mallya has approached the Supreme Court for seeking a stay on the confiscation of properties owned by him and his relatives. Reports said Vijay Mallya in his plea has said that he wanted attachment of only those properties related to Kingfisher Airlines and no other properties other than that of Kingfisher should be seized. He has said the properties related to Kingfisher Airlines should be seized and other properties related to other of his relatives should be released.
Earlier, this month, the Bombay High Court had dismissed to grant a stay on proceedings before a special court on confiscation of Vijay Mallya’s properties. It had also dismissed an application filed by Vijay Mallya seeking a stay on the proceedings before the special court hearing cases pertaining to the Prevention of Money Laundering Act (PMLA). The court had dismissed his petition then.
In 2016, a consortium of banks led by the State Bank of India had filed a petition in the Supreme Court against the liquor tycoon Mallya for his failure to repay the loan amount of more than Rs 8000 crore to various banks. Mallya failed to pay loans to more than 15 banks.
Mallya, who has been living in the United Kingdom since 2016, was declared by a special court here a fugitive economic offender. Since then, the court started proceedings for confiscation of his properties.
On July 26, the High Court in London turned down the orders approved by the Royal Courts of Justice for allowing Mallya to challenge his extradition.