Court calls Vijay Mallya as Fugitive Economic Offender

By Xappie Desk, January 05, 2019 15:31 IST

Court calls Vijay Mallya as Fugitive Economic Offender

A Special PMLA court on Saturday declared Vijay Mallya a fugitive economic offender under the Fugitive Economic Offenders Act, 2018.
 
The anti-corruption court was hearing an application by the Enforcement Directorate, seeking a direction to declare Mallya a fugitive economic offender.
 
This new law to catch people who flee abroad after committing financial crimes was signed by the President in August 2018. It aims to stop a growing number of high-profile economic offenders fleeing from the country to avoid legal action.
 
Under the new law, a fugitive economic offender is a person against whom an arrest warrant is issued for his/her involvement in economic offenses at least Rs 100 crore or more and has left India to avoid prosecution.



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