Wanted diamond merchant Nirav Modi, who remains behind bars in a London prison as he contests his extradition to India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank (PNB) scam case, will find out the UK court's ruling in the nearly two-year-long legal battle on Thursday. The 49-year-old is expected to appear via videolink from Wandsworth Prison in south-west London at Westminster Magistrates' Court, where District Judge Samuel Goozee is set to hand down his judgment on whether the jeweller has a case to answer before the Indian courts. The magistrates' court ruling will then be sent back to UK Home Secretary Priti Patel for a sign off, with the possibility of appeals in the High Court on either side depending on the outcome.
The lawsuits filed for recovering dues of Rs 300 crore from Kingfisher Airlines is exclusive of payments guarantees given by banks.
Vijay Mallya, the embattled chairman of the UB Group, is not likely to be immediately named a wilful defaulter by the United Bank of India.
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
Essential to the larger-than-life image of United Breweries Chairman Vijay Mallya cultivated were the appendages -- the yachts, private aircraft and houses all over the world.
The employees of the grounded Kingfisher Airlines, who have not been paid for eight months now, on Wednesday threatened to file a winding up petition in the court under the Company's Act, if the management did not share its revival plan with them.
The court ruled that an interim debt order in favour of SBI and other banks seeking access to funds in the Mallya's ICICI UK bank account "should remain in force" but the application to make it final should be adjourned until after the hearing of his pending bankruptcy petition.
Vijay Mallya owes several banks thousands of crores of rupees which he had taken as loans for his businesses including the now defunct Kingfisher Airlines.
Nirav Modi, wanted in connection with the estimated $2-billion Punjab National Bank (PNB) scam case, was further remanded in custody on Tuesday by a court in London hearing India's extradition request for the diamond merchant. The 49-year-old appeared on Tuesday via videolink from Wandsworth Prison in south-west London, dressed in a maroon sweater and sporting a full beard, for his regular 28-day "call-over hearing" at Westminster Magistrates' Court, where Chief Magistrate Emma Arbuthnot extended his remand for another 28 days until December 29.
The consortium might get about Rs 1,000.
The Supreme Court has rejected an appeal by Vijay Mallya to overturn charges against him for allegedly violating foreign exchange rules, adding to the legal challenges facing one of the country's most prominent businessmen.
Says will allow winding-up petition of aircraft lessors in case it fails to do so.
The airline had quit the Mumbai-London route in 2009 because of losses
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
Some pilots are already in touch with Gopinath while others are betting on Kingfisher's revival.
Passengers on-board a Kingfisher Airlines Mumbai-bound flight had tense moments on Monday after the pilot pressed a hijack alarm by mistake.
Vijay Mallya's nameplate gleamed on the door of his office in the Force India hospitality at the Indian Grand Prix on Thursday while a team sponsor board outside carried the words 'Fly Kingfisher'.
The assets of Kingfisher Airlines' vendors are stuck in the country that can be moved only after spending huge sums of money.
Most of India knows Deep Sidhu as the man who planted the Sikh religious flag on Red Fort.
Despite a bleak operating environment, Jet Airways and SpiceJet have flown into the black. The turnaround may have more to do with their embattled rivals than anything else.
A Hyderabd court issued a non-bailable warrant against Kingfisher as well as Mallya on Friday in a cheque bounce case, said a Times Now report.
Kingfisher had been asked to give its repayment plan in that meeting, failing which the lenders would not be shy of starting the process to sell its assets pledged with them, bankers said.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
Mallya will now be the Founder Emeritus of USL
It said a meeting would be held with the airline's management soon.
The government is not considering closure of any airline, new DGCA chief Prashant Sukul said on Thursday while rubbishing reports that his predecessor, E K Bharat Bhushan, was removed for taking a tough stand against Kingfisher Airlines.
The court has now put up the matter for further hearing on October 4
Janata Dal-United president Sharad Yadav has demanded that a case under 302 of Indian Penal Code (punishment for murder) should be filed against Vijay Mallya in connection with the suicide case of the wife of a Kingfisher Airlines employee.
The company said it will appoint a new Chairman at the next Board meeting.
A UK judge presiding over the extradition proceedings of Nirav Modi on Tuesday ruled that the evidence submitted by the Indian authorities to establish a prima facie case of fraud and money laundering against the fugitive diamantaire is broadly admissible. District Judge Samuel Goozee heard the arguments for and against the admissibility of certain witness statements provided by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) at Westminster Magistrates' Court in London and concluded that he considered himself "bound" by the previous UK court rulings in the extradition case of former Kingfisher Airlines chief Vijay Mallya. He then adjourned the case for a two-day hearing on January 7 and 8 next year, when he will hear the final submissions in the case before he hands down his judgment a few weeks later.
Mallya and his group firms are already facing a probe by Enforcement Directorate for alleged diversion of loans taken by long-grounded Kingfisher Airlines
Things appear to be going from bad to worse for Vijay Mallya, once known as 'King of Good Times', with the board of a company he nurtured into India's largest liquor maker asking him to quit.
Karishma Kotak talks about leaving the Bigg Boss house as her ailing father passed way and how she is coping with the loss.
Breaking his silence after a long time, to state the "factual position in response to the controversy unfortunately surrounding" him, Mallya said he had written letters to both the prime minister and the finance minister on April 15, 2016, to explain his side of the story. "No response was received from either of them," he said in a statement.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
The court noted that despite repeated orders, Mallya did not appear in the court and it was inevitable for the state machinery to intervene and ensure his presence.
The airline operates flights to eight international destinations: London, Dubai, Colombo, Singapore, Bangkok, Hong Kong, Kathm-andu and Dhaka.
BJP spokesperson alleges that the then Principal Secretary to Prime Minister Pulok Chatterjee would "snatch files" from Dr Manmohan Singh to take it to 10 Janpath, Sonia Gandhi's residence.
"India's global image has taken a beating," Mallya said on the social networking platform Twitter.
Nirav Modi's lawyer raised a British court's judgment blocking the extradition of WikiLeaks founder Julian Assange to the US on mental health grounds, as the embattled diamond merchant appeared via videolink before a court here on Thursday for a two-day hearing of final submissions in his fight against being extradited to India. The 49-year-old diamond merchant, facing charges of fraud, money laundering and intimidating witnesses in the estimated $2-billion Punjab National Bank (PNB) scam case, appeared in the Westminster Magistrates' Court. Sporting a full beard and dressed casually in a blazer, he followed the proceedings from a room at Wandsworth Prison in south-west London as his counsel raised Monday's judgment which blocks the extradition of Assange to the US on the grounds of his mental health.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances