State Bank of India has appointed valuer to assess the value of assets of Mallya.
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.
Kingfisher Airlines has defaulted on loans of over Rs 9,400 crore obtained from various banks.
Mallya understood, astutely, that the Dhingras were very keen to acquire Berger Paints. He upped his asking price. The figure Vijay asked for was found to be much more than what Kuldip and Gurbachan had anticipated. A fascinating excerpt from Sonu Bhasin's Unstoppable: Kuldip Singh Dhingra And The Rise Of Berger Paints.
Diageo asks Mallya to quit USL board; alleges fund diversion
An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
Last Saturday, USL board asked its Chairman Vijay Mallya to quit.
Corporate lending has not slowed down. There is no slowdown in manufacturing and services, says M D Mallya.
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.
Leading microchip providers Qualcomm and Intel say the chip shortage might last anything between four months to a year, perhaps even two years, depending on the various product categories - mobile devices, ICE, electric vehicles, appliances, data centres. Prakash Mallya, MD, Intel India and vice president, sales and marketing and communications group, said the spike in demand was huge, and cut across segments from PCs, phones, appliances and auto leading to the shortage.
It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies, in which in two cases she herself was on the sanctioning committees.
When a trial for a murder is going on -- with no end in sight -- more than ten years after the crime took place, it will not feel like the murder happened yesterday.
The new Diageo management had asked Vijay Mallya to step down.
The Zee saga will see a long-drawn-out court battle before shareholders get any chance to vote on any proposal by the management or Invesco, says Prosenjit Datta.
Move comes as huge provisions for bad loans push loss to Rs 4,488 crore.
A list of at least 20 individuals has been sent to the immigration department to prevent them from flying overseas.
Between April and August, it issued request seeking LoC against 147 individuals to prevent them from leaving the country, the bank said in response to a Right to Information query filed by Pune-based activist Vihar Durve.
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Few top honchos of India Inc did very well in 2014.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
These exist in a unique world of by-invitation-only properties -- those that are never advertised and which money alone cannot buy. One cannot simply walk in for a tour of these apartments. A buyer must first meet the developer's targeted social criteria to get invited for a walkthrough of the property.
'The Modi government needs some big private sector trophies to affirm its anti-corruption credentials before the polls.' 'So on whose neck will the sword fall next?' 'To that extent, the outing of the ICICI Bank-Videocon story is cathartic,' says Shekhar Gupta.
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
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