A Dubai court has issued a lookout notice against Devina Mehra, the founder and CMD of First Global, one of the prominent figures in the Indian stock markets. The lookout notice (LOC) was issued on February 2, just two days before Mehra left the country on January 30 and fled to India. The LOC was issued following a judgment of a Dubai Court ordering her to pay more than $300 million to the claimant, in case number 1637/2022. The LOC, a no-fly notice, was issued under execution case number 139/22024. In another case, the Supreme Court of UAE has asked Mehra to pay $7 million to the claimant under case number 121/2023. The Department of Wanted Persons – General Department of Criminal Investigations issued the LOC. Although First Global was founded in India, it diversified into investing in global markets. Mehra had also shifted her base to Dubai. According to the Look Out Circular, Devina Mehra’s nationality is Antigua, a North American country. She has given up her Indian citizenship. In response, Devina Mehra stated that she has not broken any laws and that the matter is sub judice. She also noted that the assets in question are not located in the UAE and that the bankers and custodians have confirmed this to the court.
Dubai Court Issues Lookout Notice for Indian Stock Market Figure Devina Mehra
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