SBI says recovery process on as no court stay yet.
Turning down a request for Rs 200 crore (Rs 2 billion) working loan by Kingfisher, the SBI-led lenders consortium on Thursday asked SBI Capitals to chalk out a fresh revival plan for the cash-strapped airline in the next 2-3 weeks.
Following the government move to allow FDI policy in the civil aviation sector, Chairman of debt-ridden Kingfisher Airlines Vijay Mallya on Wednesday said the carrier was in talks with foreign airlines.
Must satisfy shareholders on game plan to steer UB Group over next 12 months.
Share purchase agreement awaits Karnataka HC decision on Kingfisher creditors' plea.
The lawsuits filed for recovering dues of Rs 300 crore from Kingfisher Airlines is exclusive of payments guarantees given by banks.
Global liquor major Diageo Plc has submitted details sought by market regulator Sebi regarding its Rs 5,441 crore open offer for buying stake in Vijay Mallya-led United Spirits.
United Breweries Group chief Vijay Mallya's son, Sidhartha Mallya is set to step into the world of brand endorsement with celebrity management firm KWAN signing him up to become face of some luxury brands.
Malvinder Singh's name is thrown up by rumour mills, after Tata, Reliance & Sahara.
A local court in Hyderabad has issued four more non-bailable warrants (NBWs) against businessman Vijay Mallya after he failed to appear in a court here in connection with alleged dishonour of cheques amounting to Rs 2 crore (Rs 20 million) to GMR Hyderabad International Airport Ltd.
Mallya, mired in a controversy for leaving India in the middle of a massive loan default probe, on Monday appeared to distance himself from an interview that quoted him as having said that time was not 'right' to return to the country.
Kingfisher promoter Vijay Mallya is ready to infuse Rs 425 crore (Rs 4.25 billion) into the airline and restart its limited operations as soon as DGCA gives a go-ahead, the lead lender to the grounded carrier SBI said.
Lenders to Kingfisher Airlines (KFA) will meet its promoter, Vijay Mallya, and the rest of the brass on Monday, to chart a way forward for the grounded airline.
Some airline companies may be struggling to keep themselves afloat, but business for the aviation training industry is brisk, barring some exceptions.
The letter came on a day when at least 16 Kingfisher flights, 10 from Mumbai and six from Delhi, were cancelled due to the strike.
While announcing its results on Wednesday for the quarter ended June, UB Holdings said about a tenth of the corporate guarantees for Kingfisher Airlines were being invoked.
Mallya showed his net worth at Rs 615 crore, mainly in shares and bonds.
"I am an international businessman. I travel to and from India frequently.
"India's global image has taken a beating," Mallya said on the social networking platform Twitter.
Caterham (formerly Team Lotus), its Chief Technology Officer Mike Gascoyne and Aerolab have been found liable for copyright infringement and using confidential information of Formula One team Force India at the London High Court.
Private equity majors interested in buyouts have started initial discussions with promoter Vijay Mallya.
Nine flights from Bengaluru and at least three from Delhi were cancelled till this afternoon as several pilots did not report for duty, airline officials said.
There is more worry for Vijay Mallya, battling many a fire. Even as his Kingfisher Airlines struggles to hold itself, another of his major companies, United Spirits, has had a setback in its legal battle against his arch rival, Kishore Chhabria.
UB Group Chairman Vijay Mallya has turned down suggestions from banks that he should give a personal guarantee as a precondition for additional funding to the cash-strapped Kingfisher Airlines.
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country's second largest lender, to the tune of more than $2 billion.
With promoters unable to raise money, airline may find it difficult to sustain curtailed operations.
It said a meeting would be held with the airline's management soon.
Mallya still ranks well above Naresh Goyal of Jet Airways, who has been ranked at the 94th position with a fortune of $600 million.
The issue of extradition of Vijay Mallya and Nirav Modi figured in a virtual summit between India and the UK on Tuesday, with Prime Minister Narendra Modi asserting that economic offenders should be sent back to the country at the earliest for trial. India has been pressing the United Kingdom to extradite Mallya and Modi to face trial in India for their alleged involvement in cases relating to financial fraud. At a media briefing, joint secretary in the Europe West division in the ministry of external affairs (MEA) Sandeep Chakravorty said British Prime Minister Boris Johnson has mentioned that the authorities in the UK will do whatever possible to make sure that the economic offenders are extradited.
The issue of extradition of Vijay Mallya and Nirav Modi figured in a virtual summit between India and the United Kingdom on Tuesday, with Prime Minister Narendra Modi asserting that economic offenders should be sent back to the country at the earliest for trial.
St Lucia Zouks is one of the six teams competing in the CPL. The team is led by former West Indies captain Darren Sammy.
The reasons for non-payment remain unknown. GHIAL spokesperson, Arun Bhagat, refused to comment.
Vijay Mallya has been contending he is the rightful owner of Officer's Choice whisky and not Kishore Chhabria
Janata Dal-United president Sharad Yadav has demanded that a case under 302 of Indian Penal Code (punishment for murder) should be filed against Vijay Mallya in connection with the suicide case of the wife of a Kingfisher Airlines employee.
Spelling fresh trouble for Kingfisher Airlines, aviation regulator DGCA is likely to issue a show-cause notice asking why its flying license should not be suspended or cancelled.
At a 'Khaat Sabha' in Sant Kabirnagar district on Wednesday, Rahul referred to the incident of locals taking away the cots brought for the meeting, saying, "Our opponents see farmers as poor persons but I always feel that farmers are the real power of Hindustan."
Kingfisher Airlines was found to have deducted tax at source on salary payments but had not deposited it in government account, Minister of State for Finance S S Palanimanickam said in a written reply.
As per the latest shareholding pattern data of the company, foreign institutional investors held 45.81 per cent stake in Vijay Mallya-led UB group firm United Spirits Ltd as on December 31.
