Mallya’s exemption revoked in FERA case

NEW DELHI: A Delhi court on Saturday directed liquor baron Vijay Mallya to personally appear before it on September 9 in connection with a 16-year-old case over

NEW DELHI: A Delhi court on Saturday directed liquor baron Vijay Mallya to personally appear before it on September 9 in connection with a 16-year-old case over allegedly evading summons in a FERA (Foreign Exchange Regulation Act) violation case.

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Chief metropolitan magistrate Sumit Dass cancelled the exemption from personal appearance granted to Mallya in December 2000.

Back then, the Enforcement Directorate had issued summons to the businessman in connection with the alleged payment of $200,000 to the British firm for displaying the Kingfisher logo at Formula One world championships across Europe in 1996, 1997 and 1998.

The agency claimed that the money was allegedly paid without prior approval from the Reserve Bank of India in violation of FERA norms. The order came on an ED plea filed through prosecutor NK Matta. It also sought the issuance of non-bailable warrants against the chairman of the now-defunct Kingfisher Airlines to secure his presence in the ongoing trial of the case, which is at its final stage.

Meanwhile, in fresh trouble for Mallya, Diageo-controlled United Spirits on Saturday disclosed fund diversion and improper transactions worth Rs 1,225.3 crore involving entities linked to the embattled former chairman.

(With PTI inputs)