Indian banks have raided the premises of the closest near liquor baron Vijay Mallya, for Rs 9000 crore, by the Enforcement Directorate. ED has raided an old ally of Vijay Mallya in Bangalore and traced business worth over Rs 220 crore. ED has Seized documents and WhatsApp messages regarding proxy company and business between Mallya and V Shashikant.
Prior to the raids of the ED, the hearing on Vijay Mallya's petition in the Supreme Court was postponed till August 2. Mallya has filed a petition and has sought the ban from the Enforcement Directorate (ED) for seizing his property. Mallya escaped from India without paying the loan of Rs 9,000 crore taken from Indian banks and is currently undergoing extradition procedures in England.
Mallya has challenged ED's jurisdiction to seize his property under the Economic Offenses Act (FEO) Act 2018. Mallya did not tell if he had earned this property with the money received incorrectly. He argued that these properties have no relation with the bank loan dispute.
The Bombay High Court had refused to ban the proceedings of a special court in connection with the seizure of Mallya's property on July 11. The special court had declared Mallya a fugitive economic offender in January and initiated proceedings for seizing his property in matters related to the Money Laundering Prevention Act (PMLA).
