Vijay Mallya declared proclaimed offender in FERA case

1/5/2018

Agencies, New Delhi The court of Chief Metropolitan Magistrate Deepak Shehrawat on Thursday passed an order of proclaimed offender against beleaguered businessman Vijay Mallya a for evading summons. Enforcement Directorate filed a complaint against businessman Vijay Mallya on March 8, 2000, before Additional Chief Metropolitan Magistrate (ACMM) when he failed to appear before ED in response to summons. After hearing arguments, charges were framed against Mallya for the violation of 1973 FERA. Directorate of Enforcement had issued summons against Mallya in connection with alleged payment of USD 200,000 to a British firm to display Kingfisher logo in 1996, 1997 and 1998 during the Formula One World Championships in London and some European countries. ED had alleged that the money was paid without prior approval of the Reserve Bank of India in violation of the Foreign Exchange Regulation Act (FERA).

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