As a breather for the Narendra Modi lead central government, Kingfisher and united breweries owner, liquor baron, and business tycoon Vijay Mallya, who had fled from India and is currently in London, has expressed last month that he's willing to return to India.
This development happened after actions were taken by the Enforcement Directorate under the fugitive economic offenders’ ordinance. It must be noted that in June, the enforcement directorate had moved against liquor baron Vijay Mallya, in the court, in an attempt to make the court declare him as fugitive offender so as to initiate confiscation of his 12500 crores assets.
As per the recently incorporated
ordinance of Fugitive Economic Offenders, the government can lawfully
confiscate the complete linked assets belonging to a loan defaulter who has
been absconding.
