The companies have postponed their open offer, too.
Kingfisher Airlines Ltd, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Chairman Vijay Mallya said on Tuesday, without naming any investor.
First case filed after new norms come into force, NCLT admits plea.
Ex-Formula 1 team owner and Dutch supercar maker Spyker has firmed up plans to set foot in India.
Mallya remains on bail pending his UK High Court appeal, now scheduled for February 2020.
Liquor baron Vijay Mallya's passport has been suspended.
Vijay Mallya-owned Kingfisher Airlines on Wednesday approached the Supreme Court challenging the Karnataka High Court's order directing it to deposit around Rs 185 crore (Rs 1.85 billion) with the Income Tax Department as tax deducted at source (TDS) from its employees' wages.
The employees of the grounded Kingfisher Airlines, who have not been paid for eight months now, on Wednesday threatened to file a winding up petition in the court under the Company's Act, if the management did not share its revival plan with them.
UB City is the biggest commercial property in Bengaluru.
Force India co-owner Vijay Mallya reminded drivers Sergio Perez and Esteban Ocon that the team must take priority after a collision at the Azerbaijan Grand Prix wrecked hopes of a first win in Formula One.
Indian banks on Thursday rejected the loan repayment offer made by Vijay Mallya.
India's under-19 cricket team was swamped with congratulatory messages from politicians, cricketers and corporate bosses on Twitterati for lifting its third U-19 World Cup title after a gap of four years at Townsville.
Despite a bleak operating environment, Jet Airways and SpiceJet have flown into the black. The turnaround may have more to do with their embattled rivals than anything else.
Vijay Mallya, who had a meeting with the employees including pilots and engineers late on Monday night, had assured them that their dues would be paid in a staggered manner by April 10.
The Goa villa, Mumbai office could be put on the block.
Sahara Force India do not depend now just on wet weather conditions to upset the big teams as the car is competitive enough in all conditions, team principal Vijay Mallya asserted on Monday.
Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India (SBI), had approached a special Prevention of Money Laundering Act (PMLA) court seeking restoration of his properties seized by the Enforcement Directorate. The special PMLA court in Mumbai on Tuesday allowed the restoration of properties worth Rs 5,646.54 crore to banks.
Banks have already sold the pledged shares of Mangalore Chemicals and Fertilisers, realising around Rs 100 crore. Mallya and group companies have pledged over 97 per cent of the USL shares with various banks and others, which according to current market prices is worth over Rs 6,500 crore (Rs 65 billion).
Confirming the sale, senior executives of public-sector banks said there was no court directive yet to stop selling shares.
Modi is the second businessman after liquor tycoon Vijay Mallya to be declared a fugitive economic offender under provisions of the Fugitive Economic Offenders (FEO) Act which came into existence in August last year.
With United Spirits all set to be acquired by Diageo, there aren't too many local spirits barons of significance and stature left.
India's foreign direct investment policy allows foreign investors to pick up 49 per cent stake in domestic airlines, but foreign airlines are not permitted.
The government on Thursday said Kingfisher Airlines has not yet given a revival plan to restart operations, even as employees are aggrieved over non-payment of salaries.
Promoter stake rises seven per cent in revised filing.
Pune firm buys 24.46% stake from open market to become largest shareholder.
The Supreme Court on Friday rejected Kingfisher Airlines' plea against the Karnataka High Court's order directing it to deposit around Rs 185 crore with the Income Tax Department as TDS from its employees' wages.
Kishore Chhabria and Vijay Mallya have called truce. What drove Mallya to the negotiating table? What does it mean for Chhabria?
The CCI in an order dated February 26 approved Diageo's proposed majority stake purchase in Mallya-led United Spirits, saying the deal would not have adverse impact on competition.
The services of Kingfisher can be restored only after the DGCA is convinced that the carrier can provide safe and sustainable operations.
Embattled Force India team boss Vijay Mallya made his Indian Grand Prix entrance in combative mood on Saturday, lashing local media for their coverage of his business troubles and grounded Kingfisher airline.
Vijay Mallya's nameplate gleamed on the door of his office in the Force India hospitality at the Indian Grand Prix on Thursday while a team sponsor board outside carried the words 'Fly Kingfisher'.
The airline's pilots and engineers at Delhi, Bangalore and Chennai have rejected the three-month salary offer.
The foreign institutional investors have more than doubled their holding to 2.46 per cent stake in Vijay Mallya-led UB group's Kingfisher Airlines, while small individual shareholders hiked their holding significantly to 17.59 per cent during the quarter ended September 30.
The carrier has been grounded since October and employees haven't got pay since June.
Bankers meet today to decide on asset sale, invoking Mallya's personal guarantees.
A Hyderabd court issued a non-bailable warrant against Kingfisher as well as Mallya on Friday in a cheque bounce case, said a Times Now report.
Among the country's three listed airlines also, Kingfisher chief executive officer Sanjay Agarwal's pay package was the second highest in the last fiscal ended March 31, 2012, as per the remuneration details provided in their annual reports.
Acquires 50 per cent stake for $36 million in United National Breweries.
KWAN was in talks with a few clients in luxury and lifestyle space for Mallya junior. "We signed Sidhartha Mallya to exclusively manage and represent brand Sid.
The company had dent of about Rs 14,070 crore.
