ED to begin attaching Vijay Mallya's properties

Vijay Mallya

Vijay Mallya

A Delhi court on Tuesday ordered the attachment of properties of fugitive tycoon Vijay Mallya in a Foreign Exchange Regulation Act (FERA) violation case. The court had on January 4 declared Vijay Mallya a proclaimed offender for evading summons in a FERA violation case after noting that he failed to appear before it despite repeated summonses. Chief Metropolitan Magistrate Deepak Sherawat directed the attachment through the Police Commissioner, Bengaluru, and sought a report by May 8 regarding the compliance of the order.

The above mentioned court was hearing an Enforcement Directorate plea seeking attachment of Vijay Mallya's property.

The Court had asked Mallya to make an appearance by December 18. Unlike a non-bailable warrant, an "open-ended NBW" does not carry a time limit for execution.

Court issued a bailable warrant on November 6th, 2016, but Mallya showed no sign to return to India. Mallya pleaded that he wanted to return to India but his passport has been revoked, and reportedly submitted before court in London on September 9th that he wants to return to India but he has been incapacitated by the Passport Authority of India. As per the case registered by the ED, Mallya had allegedly paid Dollars 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.

Four summons were served to Mallya in connection with a contract signed in December 1995 with London-based Benetton Formula Ltd to promote the Kingfisher brand overseas.

Earlier, the British judge hearing the extradition case of liquor baron Vijay Mallya said that it was blindingly obvious that rules were being broken by Indian banks which sanctioned some of the loans to the erstwhile Kingfisher Airlines.

Notícias recomendadas

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.