The 62-year-old liquor tycoon, Vijay Mallya who fled India on March 2, 2016, has been living in London since then despite summons from Indian courts and law enforcement agencies to appear before them for trial in various related cases.
After making the Indian agencies run after him for more than a couple of years, now a fugitive billionaire Vijay Mallya is sending repeated feelers that he is ready to come back home. After the Enforcement Directorate (ED) tighten the noose around him in the Rs 9,000 crore bank loan fraud case, He seems to have run out of his options.
Last month Mallya has requested the court’s permission to allow him to sell the assets under judicial supervision and repay creditors, including the state-run banks, such amounts as may be directed and determined by the court. Now in the latest report, Vijay Mallya approached the ED informing the agency of his “willingness to return”.
The ED might seize Vijay Mallya’s properties which are worth about Rs 12,500 crore including movable assets in the form of shares. Vijay Mallya is the first economic offender facing action under the Fugitive Economic Offenders Ordinance.
He was arrested on April 18 in London but was out on bail within hours. Last week, even his passport was revoked in view of these (PMLA) investigations and later a non-bailable warrant issued by the Special Judge in Mumbai.
Now after months of drama he finally approached the ED officials expressing his wish and will to help Indian agency in the legal processes against him in the country.