'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.
Mallya and UBHL now hold a little over 3.3 per cent in USL.
Mexican Sergio Perez and Germany's Nico Hulkenberg are staying at Force India next season, the Formula One team's co-owner Vijay Mallya told Reuters. "I can confirm that both the drivers are signed up for 2017," Mallya said at the British Grand Prix. "They are a fine pair, both absolutely top class. I've never believed in 'pay drivers' where talent or ability is compromised," he added.
The contempt petition in the Karnataka High Court has been filed only against liquor baron Vijay Mallya alleging breach of an oral undertaking given before the Debt Recovery Tribunal that they would not alienate unencumbered assets nor deal with them, Counsel for a consortium of banks clarified on Wednesday.
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
The Attorney General said that Mallya has not disclosed full details of his assets.
The high court verdict in April upheld the 2018 ruling by Chief Magistrate Emma Arbuthnot at the end of a year-long extradition trial that the former Kingfisher Airlines boss had a "case to answer" in the Indian courts.
The High Commissioner upon seeing Mallya walk in actually at the mid of the event, got up and left
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.
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
Media reports this week suggested that British energy drink firm Rich Energy was leading a consortium seeking to purchase the Silverstone-based team for 200 million pounds ($278.66 million).
The quantum of punishment is expected to be pronounced on May 5 by the court.
The trademarks/brands on the block include Fly Kingfisher, Flying Models, Funliner, Fly the Good Times, Kingfisher and Flying Bird Device.
Soorarai Pottru HELD A Ganesh Nadar'S attention till the last frame.
Indian Premier League franchise Royal Challengers Bangalore has notified the Board of Control for Cricket in India about Vijay Mallya's resignation as Director of Royal Challengers Sports Private Limited (RCSPL).
Finance Minister Nirmala Sitharaman has rebutted Congress leaders Rahul Gandhi and Randeep Singh Surjewala's allegations regarding "wilful defaulters, bad loans and write-offs", and stated that they have "attempted to mislead people in a brazen manner".
Battling financial crisis, Kingfisher Airlines Chairman Vijay Mallya on Tuesday said he has not asked for a bailout from the government but wants the lenders to help with Rs 700-800 crore (Rs 7-8 billion) working capital as short-term need and interest concessions.
A UK Judge on Friday stated that the ruling in fugitive diamond dealer Nirav Modi extradition case will be made on February 25. The extradition trial of Nirav Modi has concluded today at Westminster Magistrates' court in London. District judge Samuel Goozee confirmed the timeline. Nirav Modi, who is wanted in India for allegedly defrauding Punjab National Bank (PNB) of an estimated $2 billion, was re-remanded on December 1 by a judge at Westminster Magistrate Court in London.
Vijay Mallya left India on March 2, presumably for London.
"Scamsters like Vijay Mallya, Lalit Modi and Nirav Modi magically disappeared from India and reappeared in foreign lands out of the reach of Indian law. Modiji's magic can even make democracy disappear from India very soon,'' he told an election rally at Jowai in poll-bound Meghalaya.
'There is an bligation on Finance Minister and Prime Minister to take the country into confidence'.
The 225-seater plane was later converted to 25-seater plane by Vijay Mallya for his personal use.
Fugitive businessman Vijay Mallya landed up at a 'charity dinner' organised by Virat Kohli's foundation in London on Monday but the national cricket team including the skipper maintained a safe distance from him.
Vijay Mallya remains India's top representative in world motorsport body FIA at a time when he is facing extradition to India over charges of unpaid debts and money laundering.
Vijay Mallya-owned private air-carrier, Kingfisher Airlines is in talks with a top former executive of the budget airline, SpiceJet to take him onboard and a final decision on the issue is expected shotly, sources said.
While Raghunathan is a named accused in the CBI's case registered in October last year, Nedungadi had resigned recently from the post of CFO of the UB group.
Bollywood actor Salman Khan launched the Kingfisher Calendar 2011 in Mumbai over the weekend. Here's a look at the stars in attendance!
A State Bank of India (SBI)-led consortium that gave loans to fugitive businessman Vijay Mallya on Friday received Rs 5,824.5 crore in its accounts after shares of UBL, earlier attached under the anti-money laundering law, were sold recently, the ED said. Mallya is accused in a multiple banks loan default case of about Rs 9,000 crore. The disputes resolution tribunal (DRT) had sold these shares on June 23 after the Enforcement Directorate had transferred shares worth about Rs 6,624 crore of UBL to the SBI-led consortium on the directions of a special PMLA court that is hearing the case involving Mallya in Mumbai. These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency.
Dutch brewing major Heineken on Wednesday said it has acquired an additional 14.98 per cent stake in United Breweries Ltd, taking its total shareholding to 61.50 per cent. "Heineken N.V. today (on Wednesday) announces that it has acquired an additional 39,644,346 ordinary shares in United Breweries Ltd (UBL) taking its shareholding in UBL from 46.5 per cent to 61.5 per cent," Heineken said in a statement. UBL, with its flagship brand 'Kingfisher', is the leading player in the beer market in India.
Currently, the enforcement officers are making seizures of assets directly and indirectly connected to offenders, including jewelers Nirav Modi and Mehul Choksi in the Punjab National Bank fraud and Vijay Mallya in the Rs 9,000-crore IDBI loan case.
The 17-lender consortium led by State Bank of India has also put the Flying Models, Funliner, Fly Kingfisher and Flying Bird Device on the block.
A debt recovery tribunal in India ruled that Rs 6,200 crore of Vijay Mallya's dues -- Rs 5,000 crore as principal and Rs 1,200 crore as interest -- was payable. Mallya claims that out of the sum due, Rs 3,000 crore had already been recovered by the claimants.
It was perhaps over-enthusiasm that prompted the Indian investigative agencies to take a private jet to Dominica to bring back fugitive diamantaire Mehul Choksi. Predictably, the eight-member team had to return empty-handed after almost a week-long wait. The agencies were banking too much on the "state-less" status of Mr Choksi, as Antigua, which had given him citizenship in 2017, wasn't willing to take him back. Thus, the calculation was that Mr Choksi would be whisked away from the Dominican courtroom to the waiting plane. The reason for the optimism was also because Antigua is friendly territory for India.
The carrier commenced international operations last year and currently flies to Singapore, Hong-Kong, Colombo, Dubai and Dhaka apart from other destinations.
The other two companies were Spanco Limited (Rs 37 crore or Rs 370 million) and Arch Pharma (Rs 56 crore or Rs 560 million).
Liquor baron Vijay Mallya said on Wednesday that his UB Group will overtake Diageo as the world's largest spirits maker by the next fiscal. "This (fiscal) we will be selling 102 million cases of nine litres each. Next year we will be the single largest spirits company in the world," Vijay Mallya said.
Vijay Mallya-promoted Kingfisher Airlines, which recently got approval to fly on nine international routes, today said it will start direct daily flights from Mumbai to London from January 5, 2009.
Former prime minister H D Deve Gowda on Saturday tried to downplay the controversy surrounding liquor baron Vijay Mallya in connection with the money laundering case.
CJI Lalit concurred with the minority view of Justice S Ravindra Bhat who held the EWS quota as "unconstitutional" for excluding poor among SCs, STs and OBCs.
When the government is out to get Mallya, why is it quiet about those people who are responsible for Air India's massive losses is a million dollar question
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