A spokesperson in the UK high commission said the issue is "confidential" and added: "We cannot estimate how long this issue will take to resolve." "Vijay Mallya last month lost his appeal against extradition, and was refused leave to appeal further to the UK Supreme Court. However, there is a further legal issue that needs resolving before Mr Mallya's extradition can be arranged," the spokesperson said.
Besides non-payment of salaries, Vijay Mallya-owned private carrier, is saddled with huge debt and losses
While one NBW was issued in a 2012 cheque bounce case following Mallya's non-appearance, another was in a case of allegedly evading summons in a FERA violation matter.
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
Poddar-Mallya agreement on running MCF likely to be re-worked.
Mallya offered to pay Rs 4,000 crore (Rs 40 billion) as settlement.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
A forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.
A series of failed loan recast programmes continues to haunt banks.
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
USL claims it has given a report on how the liquor baron channelled money from the company to Kingfisher Airlines, Force India and Watson.
'I used to tell my wife to pack extra food in my tiffin so that I could at least offer that to my colleagues who were living on vada pav.'
Finance Minister Arun Jaitley on Wednesday said it was responsibility of banks to ensure no defaulter manages to get away.
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
The Bad Boy Billionaires series has a lot in common: The three billionaires' hefty ambition, dangerous arrogance and untrammeled power, observes Dhruv Munjal.
Such classfication brings with a high cost, including closing of formal credit channels, and likely criminal proceedings.
Sebi asked to reconsider open offer nod as KFA was identified as wilful defaulter.
Jet Airways faces similar setback.
The airlines sources confirmed the development and said the management is negotiating with the developers to resolve the deadlock.
The move also invalidates, albeit temporarily, Mallya's repeated assurances to the court and the public of a revival plan for the carrier.
Six new airlines, three national and three regional, are set to join the market even as the sector remains dogged by massive losses.
At least 34 flights of Kingfisher airlines were cancelled on Tuesday with the Vijay Mallya-owned carrier maintaining these were planned curtailments.
In a relief to liquor baron Vijay Mallya, the high court in London has deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover a loan of around 1.145 billion pounds from him. Justice Michael Briggs of the insolvency division of the high court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka high court be determined, allowing him time to repay his debts to the banks in full.
UB Holdings had appealed to the bench, of judges Dilip B Bhosale and B Manohar, to let it use Rs 13 crore (Rs 130 million) from a Rs 380-crore (Rs 3.8 billion) deposit to pay a month's salary to employees of the grounded airline and Rs 47 crore (Rs 470 million) to settle tax dues on capital gains made from the sale of a stake in United Spirits to London-based Diageo that got it Rs 1,460 crore (Rs 14.6 billion).
'Mallya has offered to pay the original amount.' 'Let us say he means the principal amount and that stands at Rs 5,000 crores.' 'The Indian banks have to ask themselves if they would rather have this 5,000 crores or would have none of it at all,' asks Sudhir Bisht.
DIAL has filed four cases against Mallya over KFA's cheques totalling Rs 7.5 crore not being honoured.
As industrialist Vijay Mallya fights his wilful defaulter tag, former CAG Vinod Rai has said Kingfisher Airlines' loan default is just a "trickle" and the overall problem of huge bad loans at public sector banks can be blamed on 'cronies' using connections to borrow money.
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 indirect tax department on Thursday hinted that Vijay Mallya, owner of the grounded Kingfisher Airlines, may face prosecution in a service tax evasion case.
In a conversation with Business Standard after an eventful annual general meeting of Kingfisher, he clears the air on many aspects.
Mallya holds a 32.86 per cent stake in United Breweries, after having ceded control to Dutch brewer Heineken in December last year.
SBI is likely to register more FIRs to bring into the ambit of probe the additional Rs 3,100 crore loans from 10 other nationalised banks on which the company has allegedly defaulted.
Giving an idea of the scale of its ambitions, the four-month-old airline recently placed an order for 50 aircraft even as the sector is struggling.
Uniform NPA classification proposed; Kingfisher, Winsome Diamonds among top 3 in finance ministry's top-50 defaulters list
Liquor baron Vijay Mallya, facing probe in a loan default case of IDBI bank, apparently managed to leave the country in spite of a look-out notice against him by CBI.
The Karnataka High Court has rejected a petition by Vijay Mallya-led Kingfisher Airlines Limited challenging the move by a consortium of banks to take possession of its "Kingfisher House" property in Mumbai to realise part of the debts due to them from the airlines.
UB Group-controlled carrier to convert short-haul domestic routes with less demand for business class to all-economy configuration.
From a valuation of Rs 2,500 crore (Rs 25 billion) two years ago, the brand on Wednesday has come to nought.
Experts say carriers will start making money on higher ticket prices, but jet fuel costs may act as a dampener
Kingfisher Airlines Chairman Vijay Mallya has blamed almost everyone, including engine suppliers, employees, banks and tax authorities, for grounding of the carrier since October last year.
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