The UK High Court rejected businessman Vijay Mallya’s plea for permission to move the UK Supreme Court (SC).
He wanted to challenge the lower court’s approval of his extradition to India in the IDBI Bank fraud case.
Key takeaways:
The UK government may soon issue a directive allowing his extradition.
It is important to bring him back within 28 days after he exhausts all legal avenues.
He may be brought on board a special plane, as international flight operations have been suspended due to the global lockdown.
Important value additions:
The case was registered against Vijay Mallya for fraud, misrepresentation to the bank in securing credit facilities, conspiracy and money laundering.
The Enforcement Directorate (ED) of India attached assets worth Rs.13,000 crore in connection with the cases against him.
On its request, a Mumbai court declared him a fugitive under the Fugitive Economic Offenders Act.
Enforcement Directorate
It is a law enforcement and economic intelligence agency.
It is responsible for enforcing economic laws and fighting economic crime in India.
It is part of the Department of Revenue, Ministry of Finance, Government Of India.
The prime objective of the agency is the enforcement of two key Acts –
Foreign Exchange Management Act 1999 (FEMA)
Prevention of Money Laundering Act 2002 (PMLA)
The Fugitive Economic Offenders Act, 2018
It empowers any special court to confiscate all properties and assets of economic offenders who are charged in offences measuring over ₹ 100 crores and are evading prosecution by remaining outside the jurisdiction of Indian courts.
