Enforcement Directorate to sell Rs 4k-cr Vijay Mallya shares
National

Courtgrants Vijay Mallya 3 days to file reply on ED’s application  

Mumbai, Sep 3: A special court here on Monday gave athree-day time to embattled liquor baron Vijay Mallya for filing his reply onEnforcement Directorate’s application, which seeks to declare him a “fugitiveeconomic offender” under the new law.

Meanwhile, it has been reported that absconding tycoon nowwishes to return to India. According to sources, Mallya, who has extensiveproperty in India which has been attached by the investigative agencies, wantsto keep a way open to regain control over it.

Mallya has so far opposed the government’s efforts toextradite him, arguing that the condition of Indian prisons is so bad that theydo not have light or fresh air.

“All his properties are attached and if the courtdecides to confiscate his properties, then under the new Fugitive EconomicOffenders law, properties once seized cannot be released,” a seniorofficial in Finance Ministry explained.

Earlier, Mallya himself had said that he is ready to settleall his dues with the banks and wants to return to India. According to him, hewas ready to pay the dues earlier and had written a letter to Prime MinisterNarendra Modi also, but did not get cooperation from the government.

Mallya said he wrote a letter to Mr Modi and FinanceMinister Arun Jaitley on April 15, 2016, but did not receive any reply. OnWednesday last, he took to Twitter to inform that he had appealed the KarnatakaHigh Court seeking approval to sell his assets worth Rs 13,900 crore.

He also said he is not a fugitive and ‘always had honestintentions’ to repay his loans.He informed that he and United Breweries Group(UBHL) have filed an application in the Karnataka High Court on June 22, 2018,setting out available assets of approximately Rs 13,900 crore. UNI