The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
.jpg)
Banks, real estate and metal scrips among the top losers.
'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
The offer, open on April 10-26, was meant to acquire close to 38 million shares at Rs 1,440 a piece.
Lenders to Kingfisher Airlines, led by State Bank of India, had moved courts to get residual rights over these shares after Srei recovered the collateral from the defunct Kingfisher Airlines, making it difficult for Srei to sell the shares, said a legal source.
The sale came when Mallya was trapped in a sea of debt, mainly as a result of the losses his now grounded carrier, Kingfisher Airlines, had been piling.
Mallya has denied that he had fled India and said he would comply with laws.
Banks are seeking an order that Mallya should appear in person before the court.
The Survey shows fiscal consolidation despite slowdown in growth.
The S&P BSE Sensex ended 190 points up at 23,382.
California-based Mendocino Brewing Company, which sells a number of beer brands including Kingfisher in the US, has got Mallya as its chairman and is owned by UB Group through a complex shareholding structure
The CBI has shared its findings with the Enforcement Directorate.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
The agency did not seek a reappointment in FY12.
Diageo-USL integration pushed by at least two months; Firm likely to rework agreements and seek approval again
In an SEC filing dating back to 1997, he figures as "J Vallabh".
Vijay Mallya who inherited the UB Group from his father as a young 28-year-old, said he has got "nothing to prove".
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.
The parent entity, (Holdings) Ltd, have also expressed concern over the company's significant exposure to the airline.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
For his 60th birthday in December, which he called his third 20th birthday, Mallya flew in Enrique Iglesias to perform at his villa overlooking the beach in Goa.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances