FERA case: Delhi court orders attachment of Mallya's assets
New Delhi : Oct 11: A Delhi court on Thursday ordered attachment of liquor baron Vijay Mallya's Bengaluru properties in a case related to Foreign Exchange Regulation Act (FERA) violations.
Earlier in January, the court had declared Mallya a proclaimed offender for evading summons in the case. The move came after the Enforcement Directorate (ED) filed a plea in the court seeking to declare the businessman a proclaimed offender under new Fugitive Economic Offenders Bill.
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 the logo of his now defunct Kingfisher airline 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.