Vijay Mallya first person to be named 'fugitive economic offender'
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 â¹9,000 crore to Indian banks. A UK court last month said Mallya can be extradited to India to face fraud charges.