Vijay Mallya first person to be named ‘fugitive economic offender’

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Delhi: A special anti-money laundering court has declared liquor baron Vijay Mallya a “fugitive economic offender”, the first person to be declared so under a new law. The ruling empowers authorities to confiscate the assets of Mallya, who owes over Rs.9,000 crore to Indian banks. A UK court last month said Mallya can be extradited to India to face fraud charges.