Delhi Court Issues Non-Bailable Warrant Against Vijay Mallya
Mallya allegedly paid a British firm $2,00,000 for displaying the Kingfisher logo without RBI’s prior approval.
There is fresh trouble in store for businessman Vijay Mallya after a Delhi court issued an open-ended non-bailable warrant against him for allegedly evading summons in Foreign Exchange Regulation Act (FERA) violation matter on Wednesday.
According to an Indian Express report, the Enforcement Directorate said that Mallya allegedly paid $2,00,000 to a “British company for displaying the Kingfisher logo in Formula One World Championships in London and other European countries in 1996, 1997 and 1998”. The amount was paid without the approval of the Reserve Bank of India.
Chief Metropolitan Magistrate Sumit Dass passed the order after the ED submitted that non-bailable warrant issued on 4 November last year by the court has not been executed and it needs more time to do so.
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