Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India (SBI), had approached a special Prevention of Money Laundering Act (PMLA) court seeking restoration of his properties seized by the Enforcement Directorate. The special PMLA court in Mumbai on Tuesday allowed the restoration of properties worth Rs 5,646.54 crore to banks.
Grounded Kingfisher Airlines on Monday made a last-ditch attempt to preempt a hunger strike threat by its employees, by asking them to wait till Thursday, as airline expects some positive outcome from the hearing on the winding up petition against it, say sources.
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
On April 20, the court had convicted Mallya and others in connection with bouncing of two cheques of Rs 50 lakh each under relevant sections of Negotiable Instruments Act
AAI has filed two cheque bouncing cases against Mallya's Kingfisher Airlines in the court.
A total of 406 aircraft are in the fleet of eight scheduled airlines in the country, most of which were suffering losses, Lok Sabha was informed.
The world's largest passenger aircraft A-380 touched down for the first time in India on Sunday to mark the second anniversary celebrations of Kingfisher Airlines.
The total amount of penal interests charged from the defaulting parties stood at about Rs 115 crore.
No-frills carrier Go First filing for insolvency proceedings and cancelling flights is bad for the airline industry as the move will reduce capacity and could push airfares in certain routes, travel agents' grouping TAAI said on Wednesday.
With this, India joins 60 other countries that collect PNR details of international passengers.
The 17-lender consortium, led by State Bank of India had put on auction the property with a reserve price of Rs 115 crore, which was 15% less than the second auction of the property held in August
The large wilful defaulters, according to the list published by PNB, include embattled businessman Vijay Mallya's Kingfisher Airlines with an outstanding of Rs 597.44 crore.
Kingfisher Airlines has launched a Chill Times Offer for its loyal customers.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
State Bank of India and Kingfisher Airlines on Monday launched a e-ticketing initiative for air travellers.
SpiceJet in a statement said that there is no default in payment to AAI since January this year.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
On Monday, the ministry withdrew foreign traffic rights it had granted to Kingfisher Airlines.
Employees of Kingfisher Airlines who have not been paid salaries for the past 17 months on Thursday threatened to launch an indefinite hunger strike from Monday demanding stringent action against the defaulting company.
Several passengers have been complaining on social media as domestic airlines have decided not to give refunds in cash for cancelled flights due to the lockdown and instead issue credit for future travel.
Passengers on-board a Kingfisher Airlines Mumbai-bound flight had tense moments on Monday after the pilot pressed a hijack alarm by mistake.
'I don't think government needs to arrest him'.
At a meeting with airline chief executive officers and top officials here, the Civil Aviation Ministry also decided to amend Aircraft Act and Rules to safeguard the interests of aircraft leasing companies, many of which have started imposing stringent conditions for leasing planes to Indian carriers in the aftermath of Kingfisher Airlines shutting down.
Mallya's barrister, Clare Montgomery, reiterated the central defence that there had been no misrepresentation or fraud on the part of her client and that Kingfisher Airlines was the victim of economic misfortune alongside other airlines.
Lenders to Kingfisher Airlines, led by State Bank of India, had moved courts to get residual rights over these shares after Srei recovered the collateral from the defunct Kingfisher Airlines, making it difficult for Srei to sell the shares, said a legal source.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
It said a meeting would be held with the airline's management soon.
The Supreme Court Tuesday said the contempt matter involving fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, will be dealt with finally on January 18 next year. Observing that the apex court has waited "sufficiently long", a bench headed by Justice U U Lalit said, "We can't be waiting any longer now." The bench noted that Mallya was held guilty of contempt in 2017.
It had issued warrants directing the police to produce Mallya before it.
The airline has reported 5th straight quarter of net losses for the July-September period, at Rs 310 crore
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
A bench of Justice Vibhu Bakhru, which later decided to hear the matter on Thursday again, also said that the ailing airlines can be allowed to be represented by a lawyer in the proceedings to be conducted by the PSU bank against it.
Despite a bleak operating environment, Jet Airways and SpiceJet have flown into the black. The turnaround may have more to do with their embattled rivals than anything else.
Kingfisher Airlines will have to pay Rs 60 lakh daily for operating flights.
Ernst and Young, advisers to Air Sahara, had valued Air Sahara at between $750 million and $1 billion.
The employees of the grounded Kingfisher Airlines, who have not been paid for eight months now, on Wednesday threatened to file a winding up petition in the court under the Company's Act, if the management did not share its revival plan with them.
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