'I am ready pleased with the new car and it feels much better. It already gives more grip than the last year,' says Force India driver Adrian Sutil.
It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies, in which in two cases she herself was on the sanctioning committees.
India's second largest private carrier Kingfisher Airlines plans to more than double its fleet strength by adding 67 more aircraft by 2016, according to an investors' presentation made by the company.
After a fairytale 2009, Force India owner Vijay Mallya now wants the Formula One outfit to reach the next level this year where regular points and occasional podium finishes would be the order of the day.
Abay Kewadkar, director, Four Seasons Wines, says there is room for expansion of the facility based on initial consumer feedback to the initiative.
Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
Barely a day after Force India's historic podium finish at the Belgian Grand Prix, a war of words broke out between Sports Minister M S Gill and Vijay Mallya on the government's refusal to acknowledge Formula One as a sport.
Some of India's largest groups, including the Tata family controlled companies, the Ambani family controlled Reliance and Vijay Mallya's UB Group, have pledged large stakes in their listed companies as collateral to lenders, new disclosure requirements reveal
After 29 false starts, the Vijay Mallya-owned Force India finally nixed the hoodoo and scored their maiden Formula One points with Giancarlo Fisichella finishing second in the Belgian Grand Prix on Sunday.
India's hopes of hosting a Formula One Grand Prix in 2011 are on track despite exchange control obstacles, according to Force India team owner Vijay Mallya.
The consortium led by SBI has also initiated the process of recovery.
Given that debt is a major problem for most airlines, investors with a medium-term horizon should look at them.
Force India unveiled their new car on Tuesday, saying greater stability than other Formula One teams would boost their chances this season. Vijay Mallya's team finished ninth out of 10 last season but improved significantly in the closing stages and are bullish for 2010 despite missing a deadline to file their annual accounts.
When Vijay Mallya plants a kiss on anyone's cheek it makes for a story and picture, more so when the Virat Kohli is the one at the 'receiving end'. Also, when Michael Schumacher's son, Mick, makes his motor sport debut the picture becomes worth a thousand words. Here again, Rediff.com has these and a lot more exciting events from the week gone by snapped right here.
Vijay Mallya-promoted United Spirits Ltd has told its investors that at its current growth rate of 12 per cent annually, it will become the world's number one spirits company this fiscal.
The CBI recently approached the special court in Mumbai for issuance of LoR to conduct a probe to ascertain utilisation of funds received in the US-based bank accounts of Mallya and now defunct Kingfisher Airlines.
Liquor-baron Vijay Mallya today virtually asked the Gujarat government to lift prohibition in force in the state.
The government on Wednesday cleared 21 FDI proposals worth Rs 84.90 crore (Rs 849 million), most of which is likely to be brought in by the world's largest chemical company BASF through an open offer.
Submits new settlement offer to SBI
United Spirits Ltd, owned by Vijay Mallya-controlled UB Group, is set to become the world's second-largest spirits firm by volumes, dislodging Paris-headquartered Pernod Ricard.
Kingfisher has five A330-200s currently operating in its fleet, which ply between India and the United Kingdom. Deliveries are pending for another 15. Contacted by Business Standard, a company spokesperson said the airline did not ". . .envisage making any changes to the order book at this time".
Kingfisher Airlines, National Aviation Company of India Limited -- the state-owned company that runs Air India -- and Indigo could face additional cost pressures, with reinsurance rates expected to harden following the accident involving the Air France aircraft that was flying from Rio de Janeiro to Paris with 228 passengers on board.
Danish beer giant Carlsberg is all set to commence production from its 2 greenfield breweries - one each in Aurangabad & Kolkata. Carlsberg together with beer major Heineken is part of the $11 bn global takeover of British brewer Scottish & Newcastle, which has 37.49% stake in Mallya's United Breweries. Heineken is also planning to launch its flagship beer brand Heineken in association with Asia Pacific Breweries. Total beer market in India is valued at 8 million hectolitres.
Britain's Paul di Resta, the cousin of IndyCar champion Dario Franchitti, will test for Force India in Spain next week along with young American J R Hildebrand, the Formula One team said on Tuesday.
The Year of India in Russia - as 2009 is officially known - has helped India Inc get into a long bear hug with the Russian consumer. They are lapping up everything - from Ratan Tata's marquee cars to Vijay Mallya's whisky.
A communication goof-up between Vijay Mallya-promoted Kingfisher Airlines and its banker saw a cheque of Rs 12,975 bounce, much to the embarrassment of the country's largest private carrier, which promptly arranged a bank draft for the recipient.
These pilots have completed their probation and all endorsements, but the company has decided not to renew their service contracts in view of the huge losses and capacity reduction.
The employees gathered at terminal-1B and chanted slogans against the airlines' chief Naresh Goyal and Vijay Mallya, the chairman of Kingfisher Airlines. They also vented their ire against the government for not taking any action against the Jet Airways for sacking nearly 1,900 of its employees, mostly probationers and trainees.
The Rs 3.6-crore (Rs 36-million) payable by Kingfisher in the court would cover the dues for three months -- July, August and September.
In 2003, the 200-year-old sword was bought with much fanfare by liquor baron Vijay Mallya.
Adrian Sutil, one of the key drivers of the Vijay Mallya-owned Force India, is expecting a top ten finish in this weekend's Chinese Grand Prix in Shanghai.
Force India will introduce a significant aerodynamic upgrade, including an interim diffuser, in Sunday's Bahrain Grand Prix, its chairman Vijay Mallya said. After the double-decker diffuser of Brawn, Williams and Toyota were cleared by FIA, Formula One outfits are in a hurry to ape them and Mallya said Force India too would have an interim diffuser in Bahrain.
Barely a fortnight after it launched international operations and integrated low-cost carrier Simplify Deccan with it, Vijay Mallya-promoted Kingfisher Airlines plans to lay off at least 300 employees, official orders for which are to be conveyed on Monday.
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.
Former Red Bull driver David Coulthard on Friday said Force India's stunning show in the second half of the 2009 Formula One season is no fluke and the country should be proud of the Vijay Mallya-owned outfit's spectacular achievements.
Vitantonio Liuzzi has been among the points right from the start of the season and Force India chairman Vijay Mallya now wants the other driver, Adrian Sutil, to follow suit.
Vijay Mallya's Kingfisher Airlines has decided to change its earlier fleet acquisition plan. Though it aims to more than double the size from 66 to 137 aircraft by 2015-16, it does not now plan to induct Airbus 380s.
Vijay Mallya remembers the raised eyebrows that greeted his decision to retain Vitantonio Liuzzi as the race driver for the 2010 season and the Force India chairman is now pleased as punch after the Italian lived up to expectations within the first two races this year.
The induction of England batsman Kevin Pietersen and New Zealand's Jesse Ryder, besides Banaglore lad Robin Uthappa, has helped Indian Premier League franchise Bangalore Royal Challengers shed its tag of 'Test outfit' in Twenty20 cricket, says team owner Vijay Mallya. 'Last year our team was called a Test team, but with players such as (Kevin) Pietersen, (Robin) Uthappa and (Jesse) Ryder in the squad now, no one calls it a Test team anymore,' Mallya said.
The double finish in the season-opening Australian Grand Prix on Sunday ticked all the boxes barring aerodynamics and Force India is just a few refinements away from its maiden Formula One points, owner of the Silverstone-based outfit Vijay Mallya said. Mallya said reliability was his main concern coming into the 2009 session but the Australian Grand Prix dispelled all fears and aerodynamic development is all the VJM02 needed to break the duck.
