Confiscating properties draconian: Mallya to HC

Fugitive businessman Vijay Mallya Monday told the Bombay high court that confiscation of his properties under the newly-enacted Fugitive Economic Offenders Act (FEOA) was draconian and it will not help the creditors. As per provisions of the Act, once a person is declared a fugitive, his properties can be confiscated by the prosecuting agency, ED

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2CMii27