FERA violation case: Hearing against Vijay Mallya to continue
The Patiala House Court in Delhi will continue hearing in connection with a Foreign Exchange Regulation Act (FERA) violation case against liquor baron...
New Delhi : The Patiala House Court in Delhi will continue hearing in connection with a Foreign Exchange Regulation Act (FERA) violation case against liquor baron Vijay Mallya.
In the previous hearing in April, a Delhi court had issued an open ended (no time limit) non-bailable warrant against the beleaguered businessman. This was the sixth non-bailable arrest warrant issued against him.
The court had put up the matter for the next hearing on November 8, while asking the Enforcement Directorate (ED) to file a progress report in this regard within two months.
The court had earlier in 2016 lifted the exemption granted to Mallya from mandatory personal appearance in the case of evading summons in FERA's violation case.
As per the case registered by the ED, Mallya had allegedly paid USD 200,000 to a British firm and some European countries for displaying Kingfisher logo in Formula One World Championships in London in 1996, 1997 and 1998.
The investigative agency also claimed that the money was paid without prior approval from the Reserve Bank of India (RBI) in violation of the FERA norms.