SC to hear Mallya's plea on Friday

Embattled liquor baron Vijay Mallya has approached the Supreme Court for a stay on the proceedings initiated by the Enforcement Directorate to declare him a fugitive economic offender and confiscate his assets.

A bench presided over by Chief Justice Ranjan Gogoi would take up the special leave petition filed by Mallya against the Bombay High Court's order of November 22 that rejected his plea, on Friday.

The promoter of defunct Kingfisher Airlines was aggrieved by an order of special court passed under the Prevention of Money Laundering Act that had on October 30 rejected his plea for stay of the proceedings.

The ED had invoked provisions of the Fugitive Offenders Act, 2018 against Mallya, who had evaded the authorities here after defaulting to pay back the loan of over Rs 9,000 crore to the banks. He had been living in the United Kingdom and facing extradition proceedings.

The apex court had on July 14 last year refrained from passing a sentence against Mallya in the contempt case as the Union government could not produce him, citing extradition proceedings. On May 9, the court had held him guilty of contempt of court.

He had earlier offered to pay back the principal amount of loan.