The 63-year-old former Kingfisher Airlines boss, an avid cricket fan, is wanted in India on fraud and money laundering charges amounting to an alleged Rs 9,000 crores.
A Special Court for Economic Offences has ordered summons to be issued against him over dues from his Kingfisher Airlines to the I-T Dept.
Vijay Mallya faces a sensitive diary clash this week as the season-opening Australian Formula One Grand Prix coincides with an appointment to appear before Indian investigators.
Force India expect Paul Di Resta to stay with them next season but would be understanding if the highly-rated British Formula One driver wanted to move elsewhere, team owner Vijay Mallya said on Thursday.
The posters carried the caption "Modi ka asli pariwar" (real family of Modi) with 'Bhartiya Yuva Congress' written at the bottom.
The former liquor baron owes several banks a total of as much as Rs 9,000 crore
Indian businessman Vijay Mallya has teamed up with Spyker's director of Formula One, Michiel Mol, to make an 80 million euro ($109.3 million) bid for the cash-strapped team.
India had given a formal extradition request for Mallya as per the Extradition Treaty between India and the UK through a note verbale on February 8
SBI-led consortium expects to make over Rs 13,000 crore from sale of assets
ED had claimed that Mallya was summoned on four occasions for questioning in connection with a contract signed in December 1995 with London-based firm Benetton Formula Ltd for promotion of the Kingfisher brand abroad.
Occupants were served eviction orders in April this year
Speaking to reporters Mallya said, "It will all become clear in court".
The Supreme Court on Thursday gave a final opportunity to fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, to appear before it personally or through his lawyer in a contempt case where he has been found guilty. The top court said it has given multiple opportunities to Mallya to appear either personally or through a lawyer and had even given specific directions in its last order dated November 30, 2021. A bench of justices U U Lalit, S Ravindra Bhat and P S Narasimha posted the contempt case for further hearing after two weeks, saying that respondent contemnor (Mallya) is at liberty to act as per direction given in order dated November 30 last year, failing which the matter shall be taken to its "logical conclusion".
Mallya said, the ED on the one side and the banks on the other are fighting over the same assets.
Sebi's order comes close on the heels of Central Bureau of Investigation naming Mallya, Kingfisher Airlines and nine others, in the charge sheet related to the 2015 loan default case.
The debt-laden Kingfisher Airlines stopped operations in October 2012.
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
A few big IPL franchises had offered Rahul Dravid blank cheques to join them, but his choice was clear.
The leading businessman said after signing a sponsorship agreement between his Kingfisher Airlines and the Toyota team that he was confident the sport would come to the sub-continent.
He has also said that the overall mood of the Indian consumer remains subdued
The tax authorities have been piling pressure for a long time against Mallya and on Kingfisher Airlines to cough up the dues.
A direction by Chief Justice of India S A Bobde, Justice B R Gavai, and Justice Surya Kant to the Karnataka high court asked the latter to expeditiously settle the matter of assets deposited before it by Mallya for liquidation, and thereby payment to creditors 'preferably not later than three months'. It will be interesting to see the view of the London high court, if the settlement of his dues to Indian creditors is imminent, reports Ashis Ray.
ED had earlier issued summons to Mallya for "personal appearance" on March 18 under the provisions of the Prevention of Money Laundering Act (PMLA).
Several of his lenders have a lot to answer for.
UB Group Chairman Vijay Mallya, who inherited an empire of diverse businesses at age 27, is now trying hard to show that he can be a pragmatic king of bad times, too.That explains Mallya's move to hawk a part of his family silver at a time when the combined debt of his six listed companies has touched a whopping Rs 14,231 crore, as on December 2008. The debt is now more than the group's market cap.
It said a "sudden rise" in terrorist-financing investigations was seen in 2023 and this was attributed to events arising out of incidents in Manipur that led to such probes in more than 50 cases.
'I used to tell my wife to pack extra food in my tiffin so that I could at least offer that to my colleagues who were living on vada pav.'
The leave to appeal to the Supreme Court is on a point of law of general public importance, which according to experts is a very high threshold that is not often met.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
Government's move to hire UK arbitrator follows poor track record of India in extraditing offenders from Britain
The court noted that despite repeated orders, Mallya did not appear in the court and it was inevitable for the state machinery to intervene and ensure his presence.
Vijay Mallya, facing a case of loan default of over Rs 9,400 crore, on Monday resigned from Rajya Sabha.
The company secured independent valuation for these properties and had shared the same with Mallya
The office of former prime minister Manmohan Singh may have taken a special interest to try and keep afloat Vijay Mallya's ailing Kingfisher Airlines against the run of play, e-mails and letters claiming this and accessed by CNN-News18 indicate.
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Deepak Narang, executive director of United Bank of India, speaks on Vijay Mallya's 'wilful defaulter' status.
Delivering the verdict, Westminster Magistrates' Court Chief Magistrate Judge Emma Arbuthnot said that there was "no sign of a false case being mounted against him".
The process, to be heard in the Royal Courts of Justice in London, could take months as the listing of a hearing will depend on the availability of judges and other factors.
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