Terming as a "miracle" liquor baron Vijay Mallya's success at the auction of his great grandfather Mahatma Gandhi's personal belongings in the United States, Tushar Gandhi on Friday said he was delighted that the memorabilia will come back to India.
Low-cost carrier Simplify Deccan will be rebranded Kingfisher Red, a separate brand identity from Vijay Mallya-promoted full-service carrier Kingfisher Airlines.
Brimming with confidence after getting a pat on the back by Force India owner Vijay Mallya, India's driver Armaan Ebrahim is targeting a strong performance in Barcelona to finish his F2 season on a high.
The court imposed Rs 10 lakh as costs on Mallya in the case.
Indian billionaire Vijay Mallya's move to rope in Diageo -- the world's largest spirits firm -- as a strategic partner in his flagship firm United Spirits has hit an anti-trust roadblock. The companies have been in discussions for almost a year to hammer out a deal in which Diageo was expected to pick up a little over 14 per cent stake in USL for around Rs 1,200 crore.
'I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter,' Mallya said on Twitter.
The BJP threw a counter punch, claiming that the Gandhi family tried to help Mallya's floundering Kingfisher Airlines in 2011-12.
Force India F1 team rule out name change this year
The Deccan brand, once synonymous with lost cost flying in India, will cease to exist after its merger with the Vijay Mallya promoted Kingfisher Airlines, which will takeoff for international destinations by August. "Deccan will cease to exist because after the merger there will be only one company and that will be Kingfisher Airlines," UB Group chief and Kingfisher Airlines Chairman Vijay Mallya told reporters in Baramati.
Airfares may be in for an upswing. Thanks to Vijay Mallya-promoted Kingfisher Airlines acquiring 26 per cent stake in country's largest and first budget carrier Air Deccan.
The Indian High Commission in London on Thursday welcomed the Westminster Magistrates' Court ruling in the extradition case of diamond merchant Nirav Modi, wanted in India to stand trial on charges of fraud and money laundering related to the Punjab National Bank (PNB) letters of undertaking (LoUs) scam case. A senior diplomat at India House said the judgment, which found a prima facie case against the accused, paves the way for the government of India and the high commission officials to liaise with the UK authorities on the next stages of the procedural matters for his early extradition to India. "The judgment paves the way for the government of India, including the High Commission of India in London, to liaise with the UK authorities on the procedural matters," said the diplomat at the High Commission. "As with previous extradition cases, we will press on with the next steps," he said.
The lenders, led by State Bank of India (SBI), are due to inform the Supreme Court of their decision on the offer at a hearing on Thursday.
Vijay Mallya will reveal the 2008 Force India F1 car in Mumbai on February 7.
This is part of a worldwide deal under which S&N's global operations will be jointly acquired by Danish beer giant Carlsberg and Heineken for $15.4 billion. Under an agreement reached by three companies involved in the deal, Heineken will take over S&N's India operations.
Vijay Mallya has not informed Rajya Sabha secretariat about his whereabouts or that he would be leaving country.
The aircraft was earlier owned by EIH (Oberoi group).
Although industry analysts are welcoming Kingfisher Airlines' stake acquisition in Air Deccan as the right move towards consolidation
Gandhi was referring to prime minister's 'silence' on Rafale fighter aircraft deal with France and the Modi government's 'failure' to bring fugitive businessman Vijay Mallya to book.
'It is the time for Sanju Baba, why speak of another Baba?' Director Pahlaj Nihalani tells Subhash K Jha.
Vijay Mallya is accused of money laundering and violating the FEMA.
UB Group chairman Vijay Mallya and Airbus chief operating officer John Leahy signed an MoU to this effect at the 47th International Paris Air show on Wednesday.
Kingfisher Airlines has defaulted on loans of over Rs 9,400 crore obtained from various banks.
Mallya's Kingfisher Airlines has been accused of defaulting bank loans of over Rs 9,400 crore.
Pai said he was also against 'naming and shaming' willful defaulters of bank loans.
Beleaguered businessman Vijay Mallya on Thursday told the Supreme Court that banks have no right over the information of his overseas movable and immovable assets as he was an NRI since 1988.
In a thread of tweets, Mallya claimed, "The airlines struggled financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where banks money went. I have offered to repay 100 % of the principal amount to them. Please take it."
The Ethics Committee of Rajya Sabha headed by Congress veteran Karan Singh on Monday took cognizance of the issue of Vijay Mallya, who has allegedly defaulted on over Rs 9,000 crore (Rs 90 billion) bank loans.
Even existing cases might come under the proposed law, including those of Vijay Mallya, Nirav Modi and Mehul Choski. But, the law would not cover earlier cases.
The administration was triggered by Force India's Mexican driver Sergio Perez, supported by engine provider Mercedes and team sponsor BWT who were also owed money by a team struggling financially.
Mallya, who is wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crore, also said all his companies have effectively ceased operations and manufacturing following the lockdown in India.
That such a deal can be greeted with celebration in the camps of both buyer and seller speaks volumes about the airline and its recent history, explains T N Ninan.
Confiscation of the tycoon's properties will start from February 5.
The Enforcement Directorate (ED) ED will soon seek an Interpol arrest warrant against liquor baron Vijay Mallya based on a non-bailable warrant issued on Monday by a Mumbai court in a money laundering case.
Friday's hearing is expected to be presided over by Chief Magistrate Emma Arbuthnot, the same judge who had ordered the extradition of former Kingfisher Airlines boss Vijay Mallya last December.
For Jet's revival, Mr Jalan should be on the scene long enough for everyone to get to know him, appreciate his skills, and not vanish into thin air within a matter of months or even weeks, observes Anjuli Bhargava.
Congress chief Sonia Gandhi's son-in-law said that he was a political victim but never misused his position or ran away with anyone's money.
Jaitleysaid Mallya misused his position as an MP to accost him once in Parliament.
The two teams said they had been reassured by Formula One's approach under chairman Chase Carey and his new management team, who had "brought a new culture of transparency to the sport".
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