Vijay Mallya declared first fugitive economic offender

A special court in Mumbai on 5.1.2019, Saturday declared the absconding liquor baron Vijay Mallya a fugitive economic offender, the first person to be declared this under the Fugitive Economic Offenders Act(FEOA).

As per this development, the FEO’s properties can be confiscated by the government and dispose them after 90 days. Mallya’s properties are estimated to be worth Rs.12,500 crore, which includes those that are benami.

The BJP spokesman, Sambit Patra claimed that the special court’s ruling is a feather in the cap of the government: “Mallya grew under the patronage of the Congress government,” he said. “Despite him being bankrupt, he was given loans and his loans were even restructured. He fled with Rs 9,000 crore of the country’s money. This  is a feather in the cap for BJP’s fight against corruption.”

It now seems a matter of time for Mallya to be tried for  fraud and money laundering and cheating banks inckluding the State Bank of India. However this increases the expectations of people in the government acting similarly and prosecuting the greater economic offenders- Mehul Choksi and Nirav Modi who have been perceived to be close to the BJP.