Calcutta HC dismisses United Bank of India's decision on technical grounds
Beleaguered liquor baron Vijay Mallya on Wednesday announced he will retire as chairman of Sanofi India and will not seek reelection as a director of the drug maker.
Though FDI is allowed in the sector, foreign carriers cannot acquire stakes in Indian airlines.
The company plans to invest close to Rs 50 crore (Rs 500 million) by June 2009 in its winery project and another Rs 50 crore in the next few years in building barrels, tanks and vineyards. It has set a target of producing a million bottles in 2009-10 and a million cases in three years.
Four months into his new job as chief operations officer, effectively overseeing the Silverstone-based team's day-to-day workings for billionaire owner Vijay Mallya, Simon Roberts is convinced Force India is set to go places.
'Let the bankers take all steps to recover their money.'
Karun Chandhok can kiss his Force India ambitions good-bye, at least for the time being, after chairman of the resurgent outfit Vijay Mallya said he doesn't consider any Indian driver good enough for Formula One.
Force India answered any lingering doubters on Saturday by roaring onto the front row of the Formula One starting grid for the second time in as many races. Team owner Vijay Mallya allowed himself to savour the moment after Germany's Adrian Sutil qualified second at the Italian Grand Prix.
Indian drinks and aviation tycoon Vijay Mallya plans to gather his Formula One, cricket and soccer interests into one company and float it on the Mumbai stock exchange early next year. As well as his Formula One team, Mallya owns the Royal Challengers Bangalore cricket team in the Indian Premier League (IPL) and has 50 percent stakes in Kolkata-based Mohun Bagan and East Bengal soccer clubs.
Keen to ensure that the five priceless personal belongings of Mahatma Gandhi do not fall into the hands of a foreigner, the government worked on various options, one of which bore fruit as the bid was won through business tycoon Vijay Mallya.
With just five races to go before the Kinetic Energy Recovery System (KERS) becomes history, Force India Formula One team has closed that option, saying it is not worth the money or hassle. Force India chairman Vijay Mallya said introducing KERS at this stage would not only upset the car's balance but also burn a hole in his pocket.
