Latest News Update

Court says Mallya has little regards for country’s laws, issues two NBWs

Kingfisher Airlines Vijay Mallya

Bhubaneswar: A Delhi court on Friday issued two non-bailable warrants (NBW) against absconding Liquor baron and owner of Kingfisher Airlines Vijay Mallya, one on an alleged violation of FERA act and the other on a 2012 cheque bounce case.

The court heard that Mallya has no intention to return to the country and that he had little regards for the laws of the nation.

Mallya who is presently an absconder in the UK is accused of going against the Foreign Exchange Regulation Act (FERA) after his alleged undue favours of about $ 2 lakh towards a British racing firm, Benetton Formula Ltd for displaying the Kingfisher logo during F1 racing championships of 1996, 1997 and 1998 in London and some other European countries without the approval of RBI.

Similarly, in another case the Delhi International Airport Limited (DIAL) had lodged a complaint in February 22, 2012 following a bounce of a cheque of about Rs. 1 crore issued to them by Mallya after a period of one month. DIAL further lodged four other complaints alleging Mallya of having dishonored a total of 7.5 crores.

But after repeated summons since Mallya is yet to be appear the court has passed the order with direction that it be executed through Ministry of External Affairs. The next hearing would be done on February 4 next year.

Comments

Most Popular

Follow us on

Archives

Subscribe Our News

Enter Your Email Address

Copyright © 2016 Pragativadi. Powered by 4u Software Solutions

To Top