A consortium of Indian public sector banks led by SBI sought a bankruptcy order against embattled liquor tycoon Vijay Mallya during a high court hearing in London on Wednesday as part of efforts to recoup around 1.145 billion pounds in unpaid loans. Mallya's legal team, led by barrister Philip Marshall, argued for the bankruptcy petition to be dismissed because their client was being unfairly pursued by the banks in India and the UK on opposing grounds.
Calcutta HC dismisses United Bank of India's decision on technical grounds
Ending an almost two-year-long dispute over partnership with the Vijay-Mallya owned United Breweries Ltd, Heineken NV, the world's third-largest brewery firm, on Monday agreed to permit UBL to brew and market the Heineken brand in India.
Wants details of Vijay Mallya transactions over 4 years
The Force India Formula One team named Germany's Adrian Sutil and Italian Vitantonio Liuzzi on Friday in a 2010 line-up unchanged from the one that finished the season.
Succumbing to government pressure, Vijay Mallya-promoted Kingfisher Airlines on Monday decided to cut fares, but with the condition that the government put aviation turbine fuel in the declared goods category. Kingfisher has also assured that it would not resort to retrenchments to deal with the downturn.
IndiGo and Paramount Airways managed to register profit during the last fiscal.
Two years after selling his budget carrier, Air Deccan to Vijay Mallya-owned Kingfisher Airlines, its former chairman Captain G R Gopinath, still harbours a dream to return to the low-cost airline segment, which he pioneered in the country.
At the EBIDTA level domestic operations showed an operating loss of Rs 178 crore.
It had been an extraordinary tale of misfortune, podium, pole and bloopers for Force India and the born-again outfit now wants to sign off with some more points in the season-ending Abu Dhabi Grand Prix in Abu Dhabi on Sunday.
Vijay Mallya-promoted Kingfisher Airlines today said it had slashed salaries of its trainee pilots 'significantly'.
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