Bengaluru, June 15: With a proclaimed offender tag against his name, Vijay Mallya now runs the risk of losing all his properties across the world. The Enforcement Directorate's move to declare him a proclaimed offender was more to squeeze Mallya out by attaching all his properties across the world.
The ED feels that if all his properties are attached there is a greater chance that he may return to India by himself. On Tuesday, the Special Prevention of Money Laundering Court had declared Mallya a proclaimed offender. The ED had moved the court and said that Mallya has been wilfully evading both questioning and arrest.
All of Mallya's properties now under ED hammer
While the proclaimed offender tag can help the Enforcement Directorate seek his extradition with more ease, the bigger advantage is that all of his properties across the world can now be attached.
Where extraditions from the UK are concerned, the track record for India has not been good. For everything they quote human rights, an ED official informed OneIndia. While the procedure to extradite would be initiated, the bigger job for us now is to attach his properties world-wide.
Prior to the proclaimed offender tag, the ED's jurisdiction was limited to just India. However now the ED can mark his properties across the world and with the latest court order attach all of it.
The ED feels that if all of his properties are attached then there is a greater chance of him returning to India and cooperating with the investigation. The intention is to recover the money he owes the banks, the ED official also noted.
Mallya has 30 days time
The ED would however have to wait another 30 days before initiating proceedings. According to the law, once a person has been declared a proclaimed offender, he would have 30 days time to return to the country and present himself before the Special PMLA court.
The ED says if he fails to appear before the court in 30 days, then the proceedings to attach his properties across the world would begin. He cannot even argue that the properties in question are not attached to the loan.