Verdicts In Vijay Mallya, Nirav Modi Cases Likely In February

Court verdicts in cases against fugitive economic offenders like Vijay Mallya and Nirav Modi are are expected to be announced in February 2020.

An appeal hearing in the extradition case against Mallya is scheduled to come up in a United Kingdom High Court on February 11, 2020 and the court is expected to pronounce its verdict on India’s request for his extradition in connection.

Meanwhile, in India, several banks have approached the court seeking recovery of their dues from assets already attached by the Enforcement Directorate (ED) in a money laundering case against Mallya.

A verdict in that case too is expected in February 2020, especially since Mallya has already been declared a fugitive economic offender by a special court.

It may also be recalled that extradition proceedings are under way against another fugitive economic offender Nirav Modi, who is in judicial custody in the United Kingdom.

Modi has also been declared a fugitive economic offender in the Punjab National Bank (PNB) fraud case.

A special court in Mumbai has heard arguments regarding confiscation of Modi’s assets under the Fugitive Economic Offenders Act.

A verdict is being expected by the ED on February 2020, after which an order for disposal of Modi’s properties may also be issued.

Incidentally, the ED has already attached and seized assets worth thousands of crores in India and abroad in cases against Nirav Modi as well as his fugitive economic offender uncle Mehul Choksi, who also faces extradition proceedings in Antigua, where he has taken up citizenship after fleeing Indian law.