Force India boss Vijay Mallya says his partnership with the Formula 1 team's co-owner Subrata Roy stands strong despite the Sahara Group chief being in jail since March 2014.
Mallya and his group firms are already facing a probe by Enforcement Directorate for alleged diversion of loans taken by long-grounded Kingfisher Airlines
Although industry analysts are welcoming Kingfisher Airlines' stake acquisition in Air Deccan as the right move towards consolidation
Protesting against the government efforts to reduce high prices charged by airlines on tickets booked at short-term notice, Kingfisher Airlines promoter Vijay Mallya on Monday said that airfares should not be capped by the regulatory authorities, whether it is in upper or lower band.
Vijay Mallya remembers the raised eyebrows that greeted his decision to retain Vitantonio Liuzzi as the race driver for the 2010 season and the Force India chairman is now pleased as punch after the Italian lived up to expectations within the first two races this year.
The government's stated position is that it cannot tailor a bailout package for Kingfisher Airlines alone.
Force India principal and co-owner Vijay Mallya has silenced any further talk of a Formula One boycott, saying his team never intended to do anything other than race.
Firms he controls earn 4.5 per cent of UB Group's revenue.
Adrian Sutil could be in the frame for a return to Force India and Formula One if fellow-German Nico Hulkenberg moves to Sauber next season, according to team co-owner Vijay Mallya.
The message was given to the airline's CEO, Sanjay Aggarwal, at a meeting here on Wednesay.
There is more worry for Vijay Mallya, battling many a fire. Even as his Kingfisher Airlines struggles to hold itself, another of his major companies, United Spirits, has had a setback in its legal battle against his arch rival, Kishore Chhabria.
Vijay Mallya has been burdened for the past three years with debt at United Spirits spiralling and Kingfisher Airlines, well, on a downward spiral.
Kingfisher Airlines CEO Vijay Mallya says given the sheer size of the country's booming economy, India should be on the Formula One calendar.
Mallya has been contending that he is the rightful owner of 'Officers Choice' and not Chhabria who currently owns it under his company Allied Blenders and Distillers.
Mallya recently acquired 26 percent stake in the country's largest budget airline, Air Deccan.
The industrialist has joined JD(S) leader S R Bommai to for a new party.
After razing his ancestral bungalow, housed in an expansive 4.5-acres of prime location in the central business district of Bangalore, Mallya's attempt to unlock value in the land by building the luxury KingfisherTowers has been stalled.
Sahara Force India team principal Vijay Mallya, on Thursday, refused to reveal whether he will retain Adrian Sutil for the next season but said he would convey his decision to the German driver whenever he wants.
"India's global image has taken a beating," Mallya said on the social networking platform Twitter.
Several of his lenders have a lot to answer for.
Force India's co-owner Vijay Mallya has rubbished speculation that he is planning to sell his stake in the Formula One team to Sahara India.
USL is already contesting a Karnataka High Court order.
UB Group Chairman Vijay Mallya has turned down suggestions from banks that he should give a personal guarantee as a precondition for additional funding to the cash-strapped Kingfisher Airlines.
Two months before its maiden overseas flight was to take off, billionaire Vijay Mallya's Kingfisher Airlines has decided to rethink its whole strategy of flying abroad. "Due to the increase in crude oil prices and no signs of stability in the market, we are re-evaluating all our plans for international operations, keeping in mind costs and route network," Kingfisher Airlines executive vice-president Hitesh Patel said in reply to a questionnaire.
Chief Magistrate Emma Louise Arbuthnot granted him bail till December 4.
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Justice Ram Mohan Reddy asked Mallya to appear in court and bring along his passport.
At the beginning of this year, his stake in the airline stood at 30.14%.
Gandhi said, "Modi talked about bringing back black money from abroad and putting Rs 15 lakh in each Indian's bank account. I ask why Mallya and Lalit Modi are still abroad then."
Getting his bruised Kingfisher Airlines ready for that auspicious occasion is the least of his worries, as Mallya is scrambling to find an equity partner to keep his Kingfisher aloft.
Diageo asks Mallya to quit USL board; alleges fund diversion
The bankers also alleged that the Rs 594-crore claim at this point of time is a clear-cut tactics of UBHL to delay the process of justice, knowing fully well that the case is on the verge of disposal.
Most analysts, who have long stopped covering UB stocks because of continuing troubles, were surprised to see a sudden spike of up to 20 per cent in their share prices on Tuesday.
Liquor-baron Vijay Mallya today virtually asked the Gujarat government to lift prohibition in force in the state.
More than half of Mallya's total package for 2015 has been paid by Mendocino Brewing Company for 'promoting' the company's beer brands
Besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have also been named as accused
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
Indian drinks and aviation tycoon Vijay Mallya plans to gather his Formula One, cricket and soccer interests into one company and float it on the Mumbai stock exchange early next year. As well as his Formula One team, Mallya owns the Royal Challengers Bangalore cricket team in the Indian Premier League (IPL) and has 50 percent stakes in Kolkata-based Mohun Bagan and East Bengal soccer clubs.
Katrina Kaif is the latest Bollywood star to join the list of celebrities endorsing the various Indian Premiere League cricket teams. She will support Vijay Mallya's team. "Katrina is the face of Mallya's cricket team, not a brand ambassador to his Royal Challenge products," clarified a source close to the actress.
According to the The Times, the move is a part of a drive to cut UB Group's $4 billion (2.5 billion pounds) debt.
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