Beleaguered business tycoon Vijay Mallya on Tuesday criticised the media for giving ‘sensational’ news coverage of his presence at the IND v PAK match at Edgbaston on Sunday. “Wide sensational media coverage on my attendance at the IND v PAK match at Edgbaston. I intend to attend all games to cheer the India team,” Mallya tweeted some hours back. 61-year-old Mallya, who owes over Rs 9,000 crore to various Indian banks, was spotted in the stands watching the India v Pakistan match held at Edgbaston.
Ever since he defaulted on several payments to a consortium of Indian banks, he fled to the United Kingdom and has been living in self-imposed exile from March last year. Only last month, he was arrested by the Scotland Yard on allegations of fraud, triggering an official extradition process in the British courts. He was, however, later granted bail within a few hours after he provided a bail bond worth 650,000 pounds, besides assuring the court that he will follow all conditions associated with extradition proceedings. Hearing on his extradition from the UK will take place on June 13.
Meanwhile, in a bid to tighten the noose on economic offenders and defaulters who flee India, the government last month had unveiled the draft Fugitive Economic Offenders Bill, 2017, which will empower the government to confiscate any property owned by such person in India. The proposed law will be applicable in cases where value of offences is over Rs 100 crore.
The Finance Ministry said in a statement, “It is widely felt that the spectre of high-value economic offenders absconding from India to defy the legal process seriously undermines the rule of law in India. It is, therefore, felt necessary to provide an effective, expeditious and constitutionally permissible deterrent to ensure that such actions are curbed.”