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Bombay HC seeks ED reply on Mallya asset plea
NDTV··13 Aug
The Bombay High Court on August 12 asked the Enforcement Directorate to file an affidavit on whether the settlement over Vijay Mallya's attached assets is complete. Justice Milind Jadhav said the long commercial dispute with an SBI-led bank consortium needs to end. Mallya's 2020 petition challenged a PMLA court order letting banks use ED-attached assets to recover dues.
Prism
What It Means For You
- Bank customers and taxpayers following Kingfisher recoveries can watch the ED affidavit, which the court wants as a statement that the asset process is finished or not.
- The criminal prosecution is explicitly separate: even if the 2020 commercial petition is closed, that case is to continue to its logical end.
- Anyone tracking extradition should not read this hearing as a return date; Mallya remains in the UK and the civil file is about attached assets, not his presence.
What's Happening
- On August 12 Justice Milind Jadhav heard Mallya's 2020 petition against a PMLA court order allowing an SBI-led consortium to use ED-attached assets.
- The court directed the ED to file an affidavit on whether the settlement process is complete and said the commercial dispute needs to be put to an end.
- The bench clarified that any closure of the civil dispute would not affect criminal proceedings against Mallya.
How PMLA Attachment Feeds Bank Recovery
- In February 2019 the ED told the special PMLA court it had no objection to the consortium liquidating confiscated assets to recover outstanding Kingfisher debts.
- Mallya was declared a fugitive economic offender; India has sought his extradition from the UK while this parallel commercial litigation continued in Bombay.
- A 2020 petition filed while settlement talks were live can lose a live dispute if, six years later, the assets named in it have already been attached, sold or otherwise dealt with.
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