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.
It has been lowered to 'IND BBB+' from 'IND A-', besides placing the rating on 'Rating Watch Negative' (RWN).
It is understood he is moving court indicating lenders had been rough with him and, hence, caused damage.
In a filing to the Bombay Stock Exchange (BSE), USL said it had made a recommendation to the board of subsidiary United Spirits to consider the sale of the entire share capital of Whyte & Mackay.
The high court remained unconvinced by Mallya's claim that he has been a non-resident Indian since 1988 and has lived in England since 1992, a country where he has indefinite leave to remain
Five years on, US company that won the auction for the aircraft is running pillar-to-post, unable to take possession as DGCA hasn't deregistered the jet
Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
United Spirits wants to align its resources to meet its goals of becoming a trusted and respected consumer goods company.
.jpg)
SpiceJet's ex promoter Ajay Singh is trying hard to pump in huge money into the airline.
"My family reputation kept me a silent spectator, as I mutely watched the organisation I founded come to a point where it was publicly auctioned; where my family and myself have been stripped of our legacy, our finances and my personal credibility."
The agency did not seek a reappointment in FY12.
India has rejected a request from BP Plc to be allowed to sell jet fuel to the booming aviation market.
Tatas may look at selling part of its stake in couple of investments
If you want to apply for a job at State Bank of India (SBI), any default on loans or credit card payment will render your ineligible.
Samantha Stosur has suggested players at the Australian Open could boycott the Melbourne Park stadium named after Margaret Court due to the 24-time Grand Slam champion's opposition to same-sex marriage.
The court has now put up the matter for further hearing on October 4
'The failures of private businessmen have set back the process of market-oriented reform, though that is the only way forward,' argues T N Ninan.
A Delhi court has issued notice to liquor baron Vijay Mallya on ED's plea seeking to withdraw the exemption granted to him from personal appearance in a case for allegedly evading summons in connection with purported violation of foreign exchange rules.
After being forced to resign as chairman of MCF, Mallya is now keen on increasing his stake in the company
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
Besides malls and high-street stores, there's a rush of discounts while you are flying or holidaying in fancy hotels.
The Central Bureau of Investigation has registered cases against six sitting and former members of Rajya Sabha in connection with the LTC scam in which travel reimbursement was allegedly claimed by them through purportedly forged bills.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
During the checks on the Cessna aircraft registered with Business Jets India, the DGCA found that the pilots in command did not have necessary training certificates.
The Tata empire turns 150 this year. R Gopalakrishnan, former director, Tata Sons Ltd, imagines a conversation among the group's founder Jamsetji, his son Dorabji, his successor, Nowroji Saklatwala, and his successor, J R D Tata.
The sale came when Mallya was trapped in a sea of debt, mainly as a result of the losses his now grounded carrier, Kingfisher Airlines, had been piling.
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
.jpg)
Diageo, which recently coughed up a total of Rs 18,000 crore (Rs 180 billion) to take majority control of USL, seems to have a lot of faith in him.
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.
Sahara India needs to pay back $5.3 billion, raised from millions of small investors through the sale of bonds ruled by the Supreme Court to be illegal, before founder Subrata Roy can be released.
Asked to quit United Spririts' board, Vijay Mallya struck a defiant note saying he 'intends' to continue as its Chairman.
.jpg)
Swamy had written to the Election Commission, the DGCA and the Civil Aviation Ministry not to grant a license to the carrier.
ED's application, filed through prosecutor N K Matta, had requested the court to direct the accused for his physical appearance in the case which is at its final stage.
Few top honchos of India Inc did very well in 2014.
In less than two months since the announcement in March, the state has mobilised an armada of small and medium enterprises keen on making components for large equipment manufacturers.
The usage of PET bottles by a handful of wine makers is set to take the drink to the masses, thanks to a packaging solution offered by Manjushree Technopack Ltd, a Bengaluru-based manufacturer of PET bottles and performs.
'Make in India' could suffer the same fate as did privatisation and the command economy, says Ajit Balakrishnan.
Move comes as huge provisions for bad loans push loss to Rs 4,488 crore.
