Bombay HC Dismisses Plea by Vijay Mallya Seeking Stay on Procedure to Confiscate His Property© timesofindia.indiatimes.com

Bombay HC Dismisses Plea by Vijay Mallya Seeking Stay on Procedure to Confiscate His Property

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New Delhi: Bombay High Court on Thursday dismissed embattled liquor baron Vijay Mallya’s plea seeking a stay on the procedure to confiscate his property by government agencies. The court refused to give him any relief, news agency ANI reported.

In April, Vijay Mallya pleaded before the High Court against confiscating his properties under the Fugitive Economic Offenders Act (FEOA), 2018, terming it as “draconian” and a move that will not bring any relief to the creditors.

His counsel Amit Desai made the submissions before Justice I.A. Mahanty and Justice A.M. Badar, arguing that the Enforcement Directorate (ED)’s plans to seize Mallya’s properties would not help the lenders. “Confiscation is draconian. The need of hour is to deal with the banks and creditors. He (Mallya) does not want the properties returned. We only say that seizure by the government won’t solve the problems of the banks and creditors,” Desai pointed out.