The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
At the beginning of this year, his stake in the airline stood at 30.14%.
The 25-seater aircraft is interspersed with plush sofas, a cushioned bed, bars, showers and a bathrobe
He has also said that the overall mood of the Indian consumer remains subdued
The HC also offered a ray of hope to the hundreds of employees of UB-Group owned now-grounded Kingfisher Airlines, who have not been paid monthly salaries for over a year now.
ED had earlier issued summons to Mallya for "personal appearance" on March 18 under the provisions of the Prevention of Money Laundering Act (PMLA).
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
The airline, part of Vijay Mallya-led UB Group, has been grounded since October 2012, after being bogged down by huge and mounting losses.
Speaking to reporters Mallya said, "It will all become clear in court".
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
It is understood he is moving court indicating lenders had been rough with him and, hence, caused damage.
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters.
'Civil matters like loan recovery are being connected with criminal allegations, without any basis.'
More than half of Mallya's total package for 2015 has been paid by Mendocino Brewing Company for 'promoting' the company's beer brands
SBI, the country's largest lender, had recently issued public auction notices to sell Gopinath's pledged properties
The company hires Accenture for financial re-engineering, including slashing of debt ratios; changes to be visible soon
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Banks, real estate and metal scrips among the top losers.
Diageo, the world's largest distiller, has been focusing on compliance at United Spirits Ltd (USL) after its acquisition of a controlling stake in India's largest spirits maker.
Banks are seeking an order that Mallya should appear in person before the court.
The Survey shows fiscal consolidation despite slowdown in growth.
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Diageo, which recently coughed up a total of Rs 18,000 crore (Rs 180 billion) to take majority control of USL, seems to have a lot of faith in him.
Sahara India needs to pay back $5.3 billion, raised from millions of small investors through the sale of bonds ruled by the Supreme Court to be illegal, before founder Subrata Roy can be released.
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
These transactions have come for shareholders approval because of requirements under the new companies law and amended listing agreements.
The company plans to overhaul business and rationalise costs in a bid to reach parent Unilever's new profit targets, reports Viveat Susan Pinto.
To tackle the resultant inflation, the Indira Gandhi government had imposed price controls on manufactured products, including soaps and vanaspati, in 1973.
Sebi will join RBI and the government in their fight against bad loans.
The broader markets also ended lower in line with the benchmark indices
The event will be telecast on MSM's sports channels -- Sony Six and Sony Six HD in English - and Sony Aath, the network's only regional channel, in Bengali.
As his personal wealth started booming, Mallya went on a buying spree.
'I have been most pained at being painted as an absconder'.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
The parent entity, (Holdings) Ltd, have also expressed concern over the company's significant exposure to the airline.
'Lending to Mr Mallya was the bankers' season ticket to corridors of power and glamour. Borrowing from them was like a favour Mallya did to them,' says Shekhar Gupta.
Despite all the controversies, the IPL's brand value hasn't diminished. Instead, says Harish Kotian/Rediff.com, the IPL made the BCCI richer by over Rs 3 billion!
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Few top honchos of India Inc did very well in 2014.
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