Overview
- The court refused any interim stay or relief on the ED’s property seizure while Mallya remains abroad.
- The matter was adjourned to December 23, and the bench asked for clarity on when he will return to India.
- The ED filed a reply seeking dismissal, alleging bank fraud of over Rs 6,200 crore and overall liabilities of about Rs 15,000 crore.
- Prosecutors defended mandatory confiscation under the FEO Act for offences exceeding Rs 100 crore, saying the law deters flight from jurisdiction.
- Mallya challenged Section 12(8) over asset restoration, while the ED cited Section 12(9) to say properties can return only if he comes back and is acquitted.