A Delhi court has issued a non-bailable warrant against controversial business man Vijay Mallya, who owes more than Rs 9,000 crore to a clutch of 17 banks and is now learnt to be in the UK, according to media reports.
Issuing the warrant, the court observed that Mallya has no intention of returning to India and that he has little respect for Indian laws, the reports said.
In July, the court had cancelled the exemption granted to Mallya from personal appearance in the case lodged for allegedly evading summons in connection with a Foreign Exchange Regulation Act (FERA) violation case.
Mallya was directed to personally appear before it on 9 September which he failed to. The exemption from personal appearance was granted to Mallya in December 2000, regarding a complaint filed by Enforcement Directorate (ED) for evading the summons issued to him.
The ED had issued summons to the businessman in connection with alleged payment of $200,000 to a British firm, Benetton Formula Ltd, for displaying the Kingfisher logo in Formula One World Championships in London and some European countries in 1996, 1997 and 1998.
The probe agency had claimed that the money was allegedly paid without prior approval from the Reserve Bank of India (RBI), in violation of FERA norms.
The ED had earlier also sought issuance of non-bailable warrant against the chairman of the now-defunct Kingfisher Airlines to secure his presence in the ongoing trial of the case, which is now in its final stage.
Mallya has various cases against him in India. He managed to fly out of the country on 2 March, the day State Bank of India moved the Supreme Court against him.
Last month, the ED approached the special PMLA court in Mumbai seeking to declare Mallya an absconder and attach his properties as he did not comply with a proclamation order issued against him.
Published Date: Nov 04, 2016 13:23 PM | Updated Date: Nov 04, 2016 13:34 PM