Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions of pounds to cover his living expenses and legal fees from funds held with the Court Funds Office as part of bankruptcy proceedings, initiated by a consortium of Indian banks led by the State Bank of India. Deputy Insolvency and Companies Court Judge Robert Schaffer declined to allow a draw down from the court-held funds of an estimated amount of around 1.5 million pounds, accrued from the sale of Mallya's French luxury property Le Grand Jardin earlier this year, until further arguments in the case. However, he did allow the release of 240,000 pounds plus VAT to cover the legal costs of a substantive hearing in the bankruptcy proceedings scheduled for next Friday.
According to the The Times, the move is a part of a drive to cut UB Group's $4 billion (2.5 billion pounds) debt.
With all-rounder Cameron White choosing Royal Challengers Bangalore, the Victoria Bushrangers will now be captained by David Hussey in the Champions League T20 cricket tournament starting September 10 in South Africa.
The carrier had planned a GDR issue in December last year to reduce its debt but had failed to do so as its stock prices began slumping.
Second deal in 4 months after tie-up with RIL for cargo airlines.
The 2011 Indian Premier League Players' Auction got a thumbs-up from all the ten franchises, with Royal Challengers Bangalore owner Vijay Mallya said "it was a level playing field" for all the participants.
Vijay Mallya-promoted Kingfisher Airlines is flying into turbulence. More than 150 of its pilots have left in the past year-and-a-half, citing various reasons. Even though others have joined, the current shortage is estimated at 35 pilots, forcing the airline to ground some of its aircraft, cancel leaves of flight commanders, and put senior executives from the operations department on flying duty.
HPCL is Kingfisher Airline's largest aviation turbine fuel supplier.
Purnendu Maji and Srinivas Bhogle present the most valuable players in IPL-4.
Vijay Mallya, promoter of debt-ridden Kingfisher Airlines, would have his stake falling a little below 50 per cent in the company, if a comprehensive debt restructuring is approved by the shareholders on December 20. On a fully diluted basis, it will drop by little over 16 per cent from the current 66 per cent.
Protesting against the government efforts to reduce high prices charged by airlines on tickets booked at short-term notice, Kingfisher Airlines promoter Vijay Mallya on Monday said that airfares should not be capped by the regulatory authorities, whether it is in upper or lower band.
Fifteen candidates in the recently concluded elections to the Rajya Sabha have pending criminal cases against them, of which six of them have serious charges, a report by the Association of Democaratic Reforms and National Election Watch has stated.
FIIs' stake in Naresh Goyal-owned Jet Airways stood at 7.10 per cent during the three months through September, compared to 6.38 per cent during the first quarter of this financial year.
A formal agreement was signed by liquor baron and Kingfisher chief Vijay Mallya and the top officers of all the 12 'oneworld' partner airlines, after a team of the global alliance visited Delhi and Mumbai, completed a safety audit and set in motion the process through which the Indian carrier would become full-fledged member of the global partnership.
'It isn't as if I have any emotional ups and downs. I have done absolutely nothing wrong. In fact I am glad that it is finally before a UK court and an impartial court. So we wait and see how it plays out' 'If you look at my role in the team, there's nothing for me to miss. I am participating in all the decision-making and I've got a virtual pit wall at home. I miss being around but I'm also happy in my space. My time will come and I'll go back to the tracks'
In an SEC filing dating back to 1997, he figures as "J Vallabh".
Kingfisher Airlines may cut jobs, UB group chairman and CEO Vijay Mallya said on Thursday.
Beleaguered Lalit Modi on Monday found support from Royal Challengers Bangalore (RCB) owner Vijay Mallya, who credited the IPL commissioner for the cash-awash Twenty20 league's mind-boggling success. Throwing his weight behind Modi, Mallya said IPL owes its success to Modi and also wondered at the hue and cry raised over trans-border transaction by some of the IPL franchisees.
His debt woes may continue and losses double, but the King of Good Times was clearly in a defiant mood at a press meet in a packed venue in a suburban hotel in Mumbai on Tuesday.
Force India has launched its 2011 car, the VJM-04, which will carry the hopes of Adrian Sutil, British rookie Paul di Resta and test driver Nico Hulkenberg in the coming Formula One season. The team finished seventh in the constructors standings in 2010 -- its best-ever finish -- and chairman and team principal Vijay Mallya is expecting even better results in 2011.
Force India co-owner Vijay Mallya has defended his decision of not having an Indian driver in his Formula One team.
If the absconding jeweller is traced in Britain, the extradition request to the UK government could follow a similar course as the case of embattled liquor tycoon Vijay Mallya
Here's everything you need to know about Barrack 12 at Arthur Road jail, where Mallya may be lodged As we await the next move, here's everything you want and need to know about Barrack 12 at Arthur Road Jail.
The alleged hacking of liquor baron Vijay Mallya's website by the Pakistan Cyber Army only goes on to show that cyber war between the two counties is on the rise, reports Vicky Nanjappa.
Vijay Mallya-promoted Kingfisher Airlines has turned second time lucky; the state-run Bharat Petroleum Corporation (BPCL) has granted it a three-month reprieve to pay jet fuel dues. KFA owes BPCL Rs 220 crore (after adjustment of interest) for fuel dues.
The board of directors of the company have approved that the funds be raised through various instruments.
Kingfisher Airlines had moved the Supreme Court against a probe into its two-year-old strategic alliance with Jet Airways.
A brewer, a sugar baron and a cement maker are among the most influential people in Indian sport, according to a recent power list, elbowing out some of the country's biggest sports stars themselves. What's more, the power brokers not only make the rules in India but are also wielding greater influence abroad, from cricket pitches to Formula One tracks, according to Sports Illustrated India.
New Delhi, 7 August A strike call and its withdrawal proved an embarrassment for a former senior aviation bureaucrat.
Liquor baron Vijay Mallya on Wednesday met Oil Secretary S Sundareshan to discuss defaults by his group firm Kingfisher Airlines on payment of jet fuel bills, but did not say when he will clear the outstanding of Rs 176 crore (Rs 1.76 bilion).
Force India Chairman Vijay Mallya is expecting both Adrian Sutil and Vitantonio Liuzzi to be among points in Sunday's British Grand Prix and reckons a podium finish is possible in Spa and Monza.
KFA owes BPCL Rs 220 crore or Rs 2.2 billion (after adjustment of interest).
Maintaining that civil aviation flew thousands of tonnes of equipment and passengers across the country on a daily basis, he said grant of infrastructure status would help the industry in its dealings with the RBI as well as the commercial banks, both in the private and public sectors. On Kingfisher's global plan, Mallya said the airline would launch services to Hong Kong and Singapore as soon as its aircraft were ready.
Submits new settlement offer to SBI
There has been speculation within Formula One that Lawrence Stroll, the billionaire father of Canadian driver Lance, is willing to invest in Force India as part of a move for his son from Williams.
Even though both the drivers finished inside the top 10 Force India chairman Vijay Mallya said he had expected the Canadian Grand Prix to yield more points for the Silverstone-based outfit.
Mexican Sergio Perez will race for Force India next season, the British-based Formula One team announced on Thursday.
Hot models, celebrities and sunglasses -- here's a look at the launch of the Kingfisher Calendar 2010.
The ED had filed an application before a special PMLA court seeking the 'fugitive' tag for Mallya under the Fugitive Economic Offenders' Act, 2018.
Union Home Secretary Rajiv Mehrishi raised the issue of early completion of the extradition process of Mallya, during his talks in New Delhi with his UK counterpart Patsy Wilkinson, the second permanent secretary in the British home office.
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