On July 11, the Supreme Court handed down a four-month term in a contempt case against fugitive tycoon Vijay Mallya, who was charged in a bank loan default case involving his disbanded Kingfisher Airlines and a debt of over ₹9,000 crore. Mallya was also given a ₹2,000 fine by a court panel presided over by Justice U U Lalit. “Adequate punishment is a must. Mallya didn’t show any remorse,” the top court bench said.
Mallya is considered a Fugitive Economic Offender (FEO):a person for whom an arrest warrant has been issued in connection with the commission of an offence enumerated in the Act that has a minimum financial impact of Rs. 100 crore is called an FEO.
Money laundering, forging official stamps or money, dishonouring checks and activities that mislead creditors are some of the offences that are included in the FEO legislation. Vijay Mallya, however, is not the only FEO in India. Here are other such people who…
