New Delhi: The Supreme Court on Monday adjourned the petition of fugitive economic offender Vijay Mallya who had sought its direction of stay on confiscation of all the properties owned by him and his relatives. The bench has now posted the matter for hearing on August 2.
Headed by Chief Justice Ranjan Gogoi, the Supreme Court bench took note of the submission made by FS Nariman. A fresh plea must be heard along with the pending one on the legality of the law and the action to confiscate the properties, noted Nariman who appeared on behalf of Mallya.
Notably, the adjournment of hearing on the petition was sought by a senior lawyer questioning the confiscation of properties.
Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) of defaulting on bank loans to the tune of Rs 9,000 crore. He is also facing an extradition trial in UK.
Earlier, a consortium of PSU banks led by State Bank of India (SBI) won a legal claim in the UK High Court in seeking to establish the true ownership of the assets they believe are owned by embattled liquor baron Vijay Mallya.
The assets in contention such as two superyachts, a game reserve, numerous undeclared high-value and vintage cars, valuable paintings and a piano previously owned by Elton John are believed to be held by VMDS Trust, associated with Mallya’s family members. Although the trust is named after Mallya’s father Vittal Mallya (VM), Vijay Mallya claims he has no ‘beneficial interest’ in it.
(With Agency inputs)