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Tue, Nov 20, 2018 | Last Updated 1:47 pm IST

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Will defaulter return to India?

Will defaulter return to India?
Will defaulter return to India?
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

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. 

 Will defaulter return to India?

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.

Will defaulter return to India?

Will defaulter return to India?
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