Embattled liquor tycoon Vijay Mallya on July 27 approached the Supreme Court seeking a stay on the confiscation of properties owned by him and his relatives. In the petition, Mallya has said that no other properties other than that of Kingfisher Airlines facing cases of alleged irregularities should be attached.
On July 11, the Bombay High Court had refused to grant stay on proceedings before a special court on confiscation of Mallya's properties.
The division bench of the court had dismissed an application filed by Mallya last month, seeking a stay on the proceedings before the special court hearing cases pertaining to the Prevention of Money Laundering Act (PMLA).
On January 5 this year, the special PMLA court here declared Mallya a fugitive economic offender. The court then started proceedings for confiscation of his properties.
Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) of defaulting on bank loans to the tune of Rs 9,000 crore.
He is also facing an extradition trial in UK.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
