Mallya is the first Indian ever to become the owner of a Formula One Team. The Netherlands-based Mol Family and Mallya have formed a consortium that is now the joint owner of Force India Formula One, which is also India's first-ever Formula One Team and represents India's first, truly global sports foray.
Karan Johar introduces an unusual combination this week in Koffee With Karan.
One consortium is led by Manipal Hospitals' Dr Ranjan Pai along with US private equity firm KKR and Singapore investment major Temasek. The other is a combine of Swedish private equity firm EQT and Premji Invest, the investment office backed by Wipro founder Azim Premji.
Mallya now has 14 days from February 4 to apply for leave to appeal to the UK high court.
A consortium led by the Aditya Birla Group emerged the lead bidder to acquire IPL franchise Royal Challengers Bengaluru for a whopping Aditya Birla Group-Led Consortium Acquire IPL Champions RCB for Rs Rs 16,660 crore.
A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines. "As at 15.42 [UK time], I shall adjudicate Dr Mallya bankrupt," Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs said in his ruling during a virtual hearing of the Chancery Division of the high court. "I have to decide if there is a real prospect of payment of petition debt in full within a reasonable period of time... there is insufficient evidence that [Mallya's asset realisations in India] will pay the debt in full within a reasonable period of time," Judge Briggs noted, in reference to defence arguments pointing to a restoration process in India following a Prevention of Money Laundering Act (PMLA) court order for the attachment of Mallya's assets.
'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.'
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines after the high court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman's assets in India. Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Mallya's lawyers. At a virtual hearing, July 26 was set as the date for final arguments for and against granting a bankruptcy order against the 65-year-old Mallya after the banks accused him of trying to "kick matters into the long grass" and called on the "bankruptcy petition to be brought to its inevitable end".
Speaking to reporters Mallya said, "It will all become clear in court".
The contempt petition in the Karnataka High Court has been filed only against liquor baron Vijay Mallya alleging breach of an oral undertaking given before the Debt Recovery Tribunal that they would not alienate unencumbered assets nor deal with them, Counsel for a consortium of banks clarified on Wednesday.
This property has all the hallmarks of being owned and occupied by Vijay Mallya. A fleet of supercars making their way down the drive, hordes of people descending to party all night long and a constant delivery of goods and services.
Any race that has to be run in India has to be run under the banner of the recognised affiliate, says the FMCI chairman.
Indian Premier League franchise Royal Challengers Bangalore has notified the Board of Control for Cricket in India about Vijay Mallya's resignation as Director of Royal Challengers Sports Private Limited (RCSPL).
Fifteen candidates in the recently concluded elections to the Rajya Sabha have pending criminal cases against them, of which six of them have serious charges, a report by the Association of Democaratic Reforms and National Election Watch has stated.
Bollywood actor Salman Khan launched the Kingfisher Calendar 2011 in Mumbai over the weekend. Here's a look at the stars in attendance!
Kingfisher chief Vijay Mallya walked into the corporate head office of Jet at S M Centre in Andheri to discuss the issues of common interest with Naresh Goyal, as both the airlines are losing an estimated up to Rs 20 crore a day.
As his personal wealth started booming, Mallya went on a buying spree.
Shot across the incredible idyllic islands in the Indian Ocean with azure waters and clean beaches, Soneva Fushi and Soneva Gili provided the perfect backdrop for ace fashion photographer Atul Kasbekar for the Kingfisher Swimsuit Calendar 2010.
Virat Kohli has been appointed the new Royal Challengers Bangalore captain. The vice captain of the India team succeeds the highly respected and successful former RCB captain Daniel Vettori.
United Spirits Limited clocked sales volume of 100 million cases for the fiscal ended March 31, 2010, becoming the world's second largest spirit company by volumes, UB group chairman Dr Vijay Mallya,announced on Wednesday.
Britain's Paul di Resta and Germany's Nico Hulkenberg will race for Sahara Force India next season, the Formula One team said on Friday. Hulkenberg will replace compatriot Adrian Sutil at the Silverstone-based team.
Several Indian sportspersons were felicitated at an awards function organized by Sports Illustrated magazine in Mumbai on Monday.
Hot models, celebrities and sunglasses -- here's a look at the launch of the Kingfisher Calendar 2010.
Dr Vijay Mallya's Bangalore Indian Premier League team "Royal Challengers" will be attired in a attractive mix of red and yellow for the Twenty20 tournament which begins next month.
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.
The UK Home Secretary will have to sign Mallya's extradition order within two months. However, Mallya's defence team has a chance to appeal in higher courts in the UK against the verdict.
At a hearing before Master David Cook at the Queen's Bench Division of the court, Mallya's legal team sought a dismissal of the interim order.
Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions of pounds to cover his living expenses and legal fees from funds held with the Court Funds Office as part of bankruptcy proceedings, initiated by a consortium of Indian banks led by the State Bank of India. Deputy Insolvency and Companies Court Judge Robert Schaffer declined to allow a draw down from the court-held funds of an estimated amount of around 1.5 million pounds, accrued from the sale of Mallya's French luxury property Le Grand Jardin earlier this year, until further arguments in the case. However, he did allow the release of 240,000 pounds plus VAT to cover the legal costs of a substantive hearing in the bankruptcy proceedings scheduled for next Friday.
The court ruled that an interim debt order in favour of SBI and other banks seeking access to funds in the Mallya's ICICI UK bank account "should remain in force" but the application to make it final should be adjourned until after the hearing of his pending bankruptcy petition.
Sanofi India is seeking approval of the shareholders for perpetuity.
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
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.
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
Is Chiranjeevi the tourism ministry's secret weapon? Why is Vijay Mallya upset with Veerappa Moily? What in-house problem is the railway minister grappling with? All this, and more, in this week's Dilli Gupshup...
Stakeholders' Empowerment Services (SES) has advised Diageo to renege on its deal with United Spirits (USL) chairman Vijay Mallya.
At the heart of Friday's case lay an ICICI Bank loan owed by Mallya's Watson and CASL, for which Diageo stepped in as a backstop so that it could be refinanced by Standard Chartered Bank.
'Lending to Mr Mallya was the bankers' season ticket to corridors of power and glamour. Borrowing from them was like a favour Mallya did to them,' says Shekhar Gupta.
In a relief to liquor baron Vijay Mallya, the high court in London has deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover a loan of around 1.145 billion pounds from him. Justice Michael Briggs of the insolvency division of the high court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka high court be determined, allowing him time to repay his debts to the banks in full.
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