Fugitive Offenders Act won't help Banks & Creditors: Vijay Mallya
R Sinduja
News Editor
Image Credit: shortpedia
Vijay Mallya owes Indian banks over Rs.9000 crore & fled to the UK in 2016. He told Bombay High Court that confiscating his assets under the Fugitive Offenders Act is draconian & won't resolve the problems of banks & creditors. His counsel Amit Desai said need of the hour is to deal with banks & creditors; he doesn't want his properties back. Once he's back to India, the Act's provisions & the process initiated will become void.
