Mumbai: Beleaguered liquor baron Vijay Mallya through his counsel on Monday vehemently opposed before the Bombay High Court, the decision of the Enforcement Directorate (ED) to confiscate his properties.
The ED on the other hand told the HC the proceedings under the newly-enforced Fugitive Economic Offenders (FEO) act would pave way for bringing back such criminals to the country.
The arguments were advanced before a bench of Justices Indrajit Mahanty and Anant Badar, which was hearing a plea filed by Mallya against an order of a special court. The special court had on January 5 declared Mallya a “fugitive economic offender” under the new law. Subsequently, the ED filed a petition before the special court seeking permission to confiscate Mallya’s properties.
Opposing the plea and the order, senior counsel Amit Desai, appearing for Mallya told the bench that the new law was draconian. He said, “Confiscating the properties is draconian and it will not resolved the problems of the banks and the creditors.
In fact, this is the need of the hour and even my client does not want the properties to be returned to him.”The submissions were countered by ED counsel, highlighting the “object” of the new law. “It is to ensure any offender, who has left the country and is evading arrest in India, is brought back.
The proceedings against Mallya will pave way to bring back other criminals who have committed fraud in India and have fled to other country.” “The law cannot be termed as draconian as it nullifies all the action initiated against an offender, once s/he returns to India,” the ED counsel said. The bench posted the matter for further hearing on April 24.
