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SC seeks response from ED on Mallya's plea
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SME Times News Bureau | 08 Dec, 2018
The Supreme Court on Friday sought the Enforcement Directorate's
response on beleaguered industrialist Vijay Mallya's plea challenging
the proceedings before a Mumbai court seeking to declare him a fugitive
economic offender and attach his assets.
Issuing notice to the ED
and the Maharashtra government, a bench of Chief Justice Ranjan Gogoi
and Justice Sanjay Kishan Kaul, however, did not put on hold the
proceedings before the Mumbai Special court against Mallya under the
Fugitive Economic Offenders Act.
Senior counsel Fali Nariman, who
appeared for Mallya, said that any such declaration would directly
affect the rights of the various parties including the lending banks who
are seeking the recovery of their money given to now grounded
Kingfisher airlines.
Mallya has challenged the November 22, 2018
order of Bombay High Court rejecting his plea on the preliminary grounds
that the October 30 order of the Special Court under the Prevention of
Money Laundering Act, 2002 (PML Act) was not appealable under Section
17(1) of the Fugitive Economic Offenders Act (FEO Act).
The High
Court had said that the October 30 order of the Special Court under the
Prevention of Money Laundering Act, 2002 and the Fugitive Economic
Offenders Act could not be appealed under the FEO Acty as the Special
Court had not decided any issue or determined any right of Mallya.
Mallya
in his petition has said that the Bombay High Court should have given
primacy to the determination of a question whether he was in possession
of any "proceeds of crime", which he contended could only be decided in
the "earlier proceedings pending before the appellate tribunal".
"The
dismissal of stay application amounts to determination of an issue,
apart from adversely affecting the petitioner's rights," Mally said in
his appeal against the High Court order.
The appeal further
contended that the declaration that Mallya was "an alleged fugitive
economic offender could not be viewed in vacuum and in disjunction from
the issue of confiscation of properties/assets under FEO Act".
It
contended that "an order declaring Mallya as an alleged "fugitive
economic offender" and thereafter not proceeding to order confiscation
of his properties/assets would amount to passing an order in futility.
The
appeal has said that the High Court had failed to appreciate that all
the assets and properties of which confiscation was sought were the
subject matter of proceedings initiated by ED under PMLA and the probe
agency was already in possession of them.
The Directorate of
Enforcement in July moved the Special Court under the PML Act seeking to
declare Mallya as a "fugitive economic offender" under the Fugitive
Economic Offenders' Act, 2018, and confiscate his assets worth around Rs
12,500 crore.
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