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Vijay Mallya is willing to sign a consent agreement with the Indian government regarding the payment of its debts to creditors, said the lawyer of this businessman Thursday before a special court of the law on the prevention of money laundering of money (PMLA).
The PMLA court began hearing a plea from the Enforcement Branch (DE), who wishes to declare Mallya fugitive economic delinquent and confiscate his property in India.
Mallya – who is currently in London – has so far not appeared before a court or made an undertaking that he would join the judicial process in India, the district attorney told the court , DP Singh.
Mallya's lawyer, Amit Desai, however, argued that the confiscation of properties would not be of any help to the authorities, as these properties would all be in the government's consolidated funds and no one could not claim them.
Read | In another setback for Vijay Mallya, the court dismisses the call for the suspension of the "fugitive" proceedings
"The rights of creditors would disappear. In addition, all proceedings brought before the courts and tribunals brought by the banks and defendants over the property rights would also be unsuccessful, "said Desai, adding that creditors and other interested parties would be forced to claim their "
DE's solicitor, Singh, however, states that the center only becomes a property administrator, in accordance with the rules of the Fugitive Economic Offenders Act, under which the DE wants confiscating property. [19659002] But Desai pointed out that the law does not apply to Mallya. "The confiscation will be retrospective." In common law, the property of an accused is confiscated only after his guilt. Under this law, Mallya was not even tried, not a single witness was questioned and we jumped to tie up her belongings, "explained Desai." And if, tomorrow, Mallya is acquitted ? "
First published: November 29, 2018 11:39 p.m. STIs [19659009].
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