PTI, MUMBAI: A city court is likely to pass its orders on October 30 on a plea filed by businessman Vijay Mallya, seeking a stay on the proceedings initiated by the ED to declare him a Fugitive Economic Offender (FEO).
The special court heard extensive arguments on Friday from Mallya’s lawyer as well as the Enforcement Directorate (ED) counsel before reserving its order for October 30.
The ED has sought that Mallya, who is currently in the UK, be declared an FEO and his properties be confiscated and brought under the control of the Union government as per provisions of the new FEO Act.
Mallya’s counsel Amit Desai, however, urged the court, set up under the Prevention of Money Laundering Act, to refrain from hearing the ED’s plea at least till November 26.
Desai told the court that earlier this month, the appellate tribunal against money laundering had directed the ED to maintain status quo with regard to properties of the beleaguered businessman till November 26, the next date of hearing before the tribunal.
“Passing any orders declaring Mallya an FEO under the new central legislation will automatically bring his properties under the Centre’s control,” Desai said.
