I'd say if you emulate the original Subcontinental style as closely as possible, you might be able to pull it off. But the event has to be casual (as casual as black tie goes, at any rate; white dinner jackets and such), and that ought to be the only deviation from the norm. You also have to act like it's the most natural thing in the world and that you're neither going for shock value nor ignorant of what the norms are. That said, you'll probably get some weird looks, even if you argue that it's a more proper kamarband than the one that usually comes with a tuxedo. Probably not the best thing to do unless you're under 25, over 65, or super-rich.