Vijay Mallya declared proclaimed offender under Money Laundering Act
Moneylife Digital Team 14 June 2016
A special court in Mumbai declared business tycoon Vijay Mallya a proclaimed offender in a money laundering case following a petition by the Enforcement Directorate or ED.
 
Under law, the court naming somebody a proclaimed offender requires the person to appear at a specified place and at a specified time in not less than 30 days from the date of publishing of the order.
 
"It's an effective step towards securing the presence of Mallya and also one more chance to Mallya to come clean before the court in next 30 days. Failing which all his properties will be attached and sold by government," said lawyer Nitin Venegaonkar, representing the ED.
 
The ED has also said that it is in touch with Interpol to release a red corner notice, similar to an international arrest warrant, against Mr Mallya, who is believed to be living in the UK.
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