FERA violation case: Hearing against Vijay Mallya to continue

ANI  |  New Delhi [India] 

The Patiala House in will continue hearing in connection with a Foreign Exchange Regulation Act (FERA) violation case against baron Vijay Mallya.

In the previous hearing in April, a had issued an open ended (no time limit) non-bailable warrant against the beleaguered businessman. This was the sixth non-bailable arrest warrant issued against him.

The had put up the matter for the next hearing on November 8, while asking the (ED) to file a progress report in this regard within two months.

The had earlier in 2016 lifted the exemption granted to Mallya from mandatory personal appearance in the case of evading summons in FERA's violation case.

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 logo in Formula One World Championships in 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 08 2017. 08:42 IST