Business

Fera Case: Delhi Court Orders Attachment Of Vijay Mallya Properties In Bengaluru

JAVED SAIFI | 0
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| October 11 , 2018 , 17:02 IST

A Delhi Court on Thursday has ordered attachment of fugitive Vijay Mallya’s Bengaluru properties in a case relating to Foreign Exchange Regulation Act (FERA) violations charges against him.

According to reports, Chief Metropolitan Magistrate Deepak Sherawat issued directions after the Bengaluru police, through ED’s special public prosecutor N K Matta and advocate Samvedna Verma, sought more time to execute its earlier order.

Bengaluru police had informed the court about 159 properties belonging to Mallya.

Also Read: Rahul Gandhi Demands Finance Minister Arun Jaitley Step Down Over Alleged Meeting With Vijay Mallya 

On January 4, Mallya was declared as a proclaimed offender of evading summons on FERA violation case.

FERA CASE?

The anti-money laundering agency had identified and alleged that Mallya had paid an amount of $200,000 to a British firm for displaying his company Kingfisher logo during the Formula One World Championships in London and some in the European countries.

With that alleged payment to a British firm, Mallya had violated the FERA norms as it paid the amount to a British firm without prior approval of the Reserve Bank of India (RBI).