Supreme Court Issues Notice to ED on Confiscating Vijay Mallya’s Assets, Refuses to Stay Proceedings
Mallya, who absconded from India in 2016, was then representing the state of Karnataka in the Rajya Sabha. (Photo Credits: PTI)

New Delhi, December 7: The Supreme Court on Friday issued a notice to the Enforcement Directorate regarding a plea filed by Vijay Mallya and refused to stay proceedings initiated by the central probing agency. Mallya had requested the ED’s proceeding to declare him a fugitive economic offender and confiscate his assets to be stayed.

Earlier, Mallya had offered to repay 100 percent loan amount against his airline – Kingfisher. He took to Twitter and wrote that all the allegations against him are false. He wrote, “Politicians and Media are constantly talking loudly about my being a defaulter who has run away with PSU Bank money. All this is false. Why don’t I get fair treatment and the same loud noise about my comprehensive settlement offer before the Karnataka High Court. Sad.” Vijay Mallya to Repay 100% Loan Amount; Liquor Baron's Offer Comes Just Five days Ahead of His Extradition Hearing.

The fugitive was reacting on the charges days ahead of United Kindom (UK) court’s extradition hearing in London. The court had reserved its verdict on the extradition case for December 10.

In a series of tweets, he accused the high Air Traffic Control and fuel prices. He wrote, “Airlines struggling financially partly becoz of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that’s where Banks money went. I have offered to repay 100 % of the Principal amount to them. Please take it.” London Court Allows Sale of Six Posh Cars Owned by Vijay Mallya to Repay Indian Banks.

Mallya even expressed his anger over the Indian media reports for spoiling his image. He wrote, “see the quick media narrative about my extradition decision. That is separate and will take its own legal course. The most important point is public money, and I am offering to pay 100% back. I humbly request the Banks and Government to take it. If payback refused, WHY ?”

The liquor baron collectively owes an amount of over Rs 9,000 crores to a total of 17 Indian banks. According to reports, he left the country on March 2, 2016, a day before the consortium of lenders moved the court seeking penal action against him.