With promoters unable to raise money, airline may find it difficult to sustain curtailed operations.
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.
Taking to Twitter, Gandhi posted, "The scamster's escape formula: La(Mo) + Ni(Mo) ---(with) Na(Mo)---> Bha(Go)", while using the hashtag "#ModiRobsIndia".
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 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.
Nico Hulkenberg and Sergio Perez will start the season ending Abu Dhabi Grand Prix from seventh and eighth on the grid courtesy a solid showing in the qualifying at the Yas Marina Circuit in Abu Dhabi on Saturday.
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.
Kingfisher had been asked to give its repayment plan in that meeting, failing which the lenders would not be shy of starting the process to sell its assets pledged with them, bankers said.
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.
Force India are now 99 points clear of fifth-placed Williams, and 165 behind third-placed Red Bull, with a maximum 86 remaining to be won.
The intrigue surrounding how the Vijay Mallya-led UB Group will address the spiralling debt problem of its companies took a fresh turn on Tuesday, with one senior official saying there was a possibility of group firm United Spirits Ltd totally selling out its flagship subsidiary Whyte and Mackay (W&M), the scotch major based in Scotland.
The message was given to the airline's CEO, Sanjay Aggarwal, at a meeting here on Wednesay.
United Breweries Ltd Chairman Vijay Mallya received over Rs 1.4 crore as commission and sitting fees during 2011-12 from the company.
After hearing Kingfisher's plea, the COMPAT observed that the CCI had acted beyond its scope in the matter and set aside the penalty.
Other corporate leaders, including Biocon chief Kiran Mazumdar Shaw, UB Group Chairman Vijay Mallya and Mahindra Group vice-chairman Anand Mahindra, have also expressed concerns over the current state of economy in the country.
Force India will have a 50 million pound boost to help them move up the Formula One grid after a strong performance this year, the team's co-owner Vijay Mallya announced.
Bankers and the senior management are expected to convene another meeting later this month.
Beleaguered Kingfisher Airlines on Wednesday announced further reduction in its flight schedule and said its promoter Vijay Mallya will meet the pilots agitating over delayed salary on Thursday.
Airline had promised them salaries by Diwali.
Interview with Joint President & CFO, United Spirits Limited.
Q&A with UB Group chairman Vijay Mallya on Diageo deal
UK-based Diageo's acquisition of 53.4 per cent stake in Vijay Mallya-led United Spirits for Rs 11,166.5 crore ($2 billion) could be the biggest inbound M&A deal so far this year.
Deal will help the Diageo to ramp up its presence in the global whiskey market and Vijay Mallya to repay debts of its group company Kingfisher Airlines.
A section of pilots of Kingfisher Airlines on Tuesday went on a strike over non-payment of salary and other dues for the past five months, forcing cancellation of five flights.
UBHL chairman sold 8.41% stake, but didn't disclose.
He sold 8.84% stake for Rs 55 crore based on average stock price in September quarter.
Kingfisher Airlines, owned by Indian liquor baron Vijay Mallya, is in talks with two foreign carriers, including International Airlines Group (IAG) -- the owner of British Airways and Iberia -- for a potential rescue package, a report said.
Aviation companies, led by flamboyant Vijay Mallya-promoted Kingfisher Airlines, have been witnessing stress and it has also impacted their debt servicing, with some accounts turning non-performing assets.
Shot across the incredible idyllic islands in the Indian Ocean with azure waters and clean beaches, Soneva Fushi and Soneva Gili provided the perfect backdrop for ace fashion photographer Atul Kasbekar for the Kingfisher Swimsuit Calendar 2010.
Sources say Diageo is pushing for a management control of United Spirits; and this has led Mallya to rethink on the offer.
The last few days have been hectic for Congress president Rahul Gandhi, addressing various conclaves in London and in Germany. And, as is to be expected, not everyone is too pleased with what he's had to say.
Low-cost carriers (LCCs) like Air Asia and Ryan Air are among the best because they are frugal, have flexibility in operations and certain standardisation of aircraft and operations.
On November 9, 2012 Diageo had announced buying a 53.4 per cent stake in USL for Rs 11,166.5 crore (Rs 111.66 billion) in a multi-structured deal.
Asthana was sent on a forced leave after the CBI registered a case of corruption against him. His plea to quash the FIR was rejected by the Delhi high court.
As his IPL team member Australian Luke Pomersbach was arrested for allegedly molesting an American woman, Royal Challengers Bangalore owner Siddharth Mallya attacked her in a tweet.
A section of Kingfisher pilots have reported sick in protest against non-payment of salaries.
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