HALISTER1: India Court Declares Mallya ‘Proclaimed Offender,’ PTI Reports

India Court Declares Mallya ‘Proclaimed Offender,’ PTI Reports

(Bloomberg) -- An Indian court on Prevention of Money Laundering Act declares ex-billionaire beer baron Vijay Mallya a “proclaimed offender” in a case related to bank loan, Press Trust of India reports, citing the order.
  • Mallya will now have to appear before PMLA court in 30 days, CNBC-TV18 television channel added
  • Sumanto Bhattacharya, a spokesman for Mallya and UB Group, said he doesn’t have an immediate comment on the court order
  • “Now the ED’s latest move seems to be to approach the PMLA court to declare me a proclaimed absconder for reasons that I cannot understand. I left India as per schedule on March 2nd to attend meetings in Geneva at which time no ED proceedings had commenced and no summons issued to me,” Mallya said in a statement on June 12
  • NOTE: Mallya Says India Probe Agency Steps Make Debt Repayment Harder Link
  • NOTE: Modi Faces Battle to Extradite Beer Baron Mallya From U.K. Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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