The controversial Business tycoon and King Fisher owner Vijay Mallya is intended to come back to India the ED sources said. Vijay Mallya, who is facing extradition proceedings in the United Kingdom and against whom the Enforcement Directorate (ED) recently invoked the Fugitive Economic Offenders Ordinance (FEOO), has indicated that he may come back to India,
A few weeks ago, the ED moved an application before a Special Court in Mumbai seeking issuance of a notice against Mr. Mallya under the FEOO and confiscation of assets worth ₹12,500 crore purportedly linked to him if he did not turn up. Accordingly, the court issued a notice seeking his presence on August 27.
A certified copy of the notice is now with the Ministry of External Affairs to be sent to the United Kingdom and served on the beleaguered businessman.
A copy of notice issued from the court has been received in Ministry of External Affairs will be sent to British Government to take legal action against liquor baron.
Mallya, his now defunct venture Kingfisher Airlines Limited and others availed loans from various banks during the tenure of the UPA-I government and the outstanding amount, including interest, against him is Rs 9,990.07 crore at present.
This article was first published on http://www.manuinfo.com.