MUMBAI: Embattled liquor tycoon Vijay Mallya advised the Bombay top court docket on Wednesday that by stating him a fugitive financial culprit and allowing attachment of his belongings, a special court docket had awarded him an "economic death penalty".
Mallya made the commentary through his counsel Amit Desai earlier than a bench of justices Ranjit More and Bharati Dangre, during arguments on his plea challenging several provisions of the Fugitive Economic Offenders Act that got here into lifestyles in August ultimate 12 months.
"My debts and the interest on such debts are mounting. I have assets to pay off these debts but the government won't allow the use of these assets to clear the debts. I have no control over my properties," the businessman mentioned.
"This is an economic death penalty that has been awarded to me," he mentioned.
Desai advised the court docket to move an injunction towards the proceedings related to confiscation of his belongings across the nation.
The bench, on the other hand, refused to grant any period in-between reduction on the petition.
A different court docket right here had in January declared Mallya a fugitive financial culprit (FEO) underneath provisions of the Fugitive Economic Offenders Act.
Later, Mallya approached the top court docket, challenging the provisions of the act that permit, amongst other issues, confiscation of belongings and putting them underneath the keep an eye on of the Union govt.
He additionally filed some other petition challenging the special court docket order that declared him an FEO which was being heard by some other department bench of the top court docket.
Desai argued that the FEO Act was "draconian" and "unconstitutional" because it allowed the Centre to confiscate the whole thing, irrespective of whether a property was bought from the proceeds of a crime or not.
Mallya's plea was opposed by the enforcement directorate's (ED) counsel D P Singh, who argued that the Act was not draconian at all.
"This act is not draconian. In fact, this act prohibits prosecuting agencies from acting on their own. For everything, including attachment of properties, we are supposed to get a court order that is passed only after hearing all sides," Singh mentioned.
"This act is meant for Mallya-like people only. It is not an ordinary legislation. The act has been constituted to bring back defaulters who have defaulted amounts of Rs 100 crore and above," the counsel mentioned.
The court docket, too, noted that the law was a sound one and not draconian.
"We understand this legislation is a little harsh. But that is because it deals with draconian situations," the bench mentioned.
It, on the other hand, issued a notice to the legal professional common to answer Mallya's plea challenging the act.
Mallya made the commentary through his counsel Amit Desai earlier than a bench of justices Ranjit More and Bharati Dangre, during arguments on his plea challenging several provisions of the Fugitive Economic Offenders Act that got here into lifestyles in August ultimate 12 months.
"My debts and the interest on such debts are mounting. I have assets to pay off these debts but the government won't allow the use of these assets to clear the debts. I have no control over my properties," the businessman mentioned.
"This is an economic death penalty that has been awarded to me," he mentioned.
Desai advised the court docket to move an injunction towards the proceedings related to confiscation of his belongings across the nation.
The bench, on the other hand, refused to grant any period in-between reduction on the petition.
A different court docket right here had in January declared Mallya a fugitive financial culprit (FEO) underneath provisions of the Fugitive Economic Offenders Act.
Later, Mallya approached the top court docket, challenging the provisions of the act that permit, amongst other issues, confiscation of belongings and putting them underneath the keep an eye on of the Union govt.
He additionally filed some other petition challenging the special court docket order that declared him an FEO which was being heard by some other department bench of the top court docket.
Desai argued that the FEO Act was "draconian" and "unconstitutional" because it allowed the Centre to confiscate the whole thing, irrespective of whether a property was bought from the proceeds of a crime or not.
Mallya's plea was opposed by the enforcement directorate's (ED) counsel D P Singh, who argued that the Act was not draconian at all.
"This act is not draconian. In fact, this act prohibits prosecuting agencies from acting on their own. For everything, including attachment of properties, we are supposed to get a court order that is passed only after hearing all sides," Singh mentioned.
"This act is meant for Mallya-like people only. It is not an ordinary legislation. The act has been constituted to bring back defaulters who have defaulted amounts of Rs 100 crore and above," the counsel mentioned.
The court docket, too, noted that the law was a sound one and not draconian.
"We understand this legislation is a little harsh. But that is because it deals with draconian situations," the bench mentioned.
It, on the other hand, issued a notice to the legal professional common to answer Mallya's plea challenging the act.
Declaring me fugitive offender is like giving 'economic death penalty': Mallya tells HC
![Declaring me fugitive offender is like giving 'economic death penalty': Mallya tells HC]()
Reviewed by Kailash
on
April 24, 2019
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