SC adjourns Vijay Mallya’s plea seeking stay on ED’s proceedings

New Delhi: The Supreme Court on Tuesday adjourned the plea of liquor baron Vijay Mallya, seeking a stay on the proceedings initiated by the Enforcement Directorate (ED) to declare him a fugitive economic offender and confiscate his assets.

The matter will now be heard in March after the Holi break of the court.
Mallya had on Thursday hit out at Central Bureau of Investigation (CBI) and ED saying all that investigative agencies have been doing to him over the past four years is “totally unreasonable”.

Speaking to reporters after the third day of the hearing at the UK High Court, where he has appealed against the extradition decision of Westminster Magistrates Court, Mallya had said, “CBI and ED have been unreasonable, all they have been doing to me over the past four years is totally unreasonable. I request the banks with folded hands to take 100 per cent of your principal back immediately.”

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Mallya said that the ED attached his assets on the basis of the complaint filed by the banks that he was not repaying them.

“That is clearly stated in the provisional attachment orders. I have not committed any offences under the PMLA that the ED would suo motto attach my assets. Now I am saying please banks take your money and the ED is saying — we have a claim on these assets,” he said.

The fugitive liquor baron said he was mulling to honour his guarantee and pay the banks in full.

“ED on one side and banks on the other side are fighting over the same asset. I have not borrowed any money from ED. In fact, I did not borrow money myself from banks, Kingfisher airlines did. I am mulling to honour my guarantee and pay them in full,” he said.

63-year-old Mallya flew out from India in March 2016 and has been living in the United Kingdom since then.

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