Sunday , October 24 2021

ED files supplementary chargesheet against Vijay Mallya

The document has been filed before a special court under the provisions of the Prevention of Money Laundering Act, naming the defunct Kingfisher Airlines, UBHL and Vijay Mallya under the new law.

The Fugitive Economic Offenders Ordinance, 2018 aims to deter economic offenders from evading the law by remaining outside the jurisdiction of Indian courts.

Vijay Mallya is the first person to be booked under the new law to deal with those who commit financial crimes and leave the country. The special PMLA court will now begin the process to declare Vijay Mallya a “fugitive”

This is the second prosecution complaint against Mallya in the bank fraud case. 

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