As part of their deal Diageo agreed to pay Mallya, $75 million for stepping down as chairman of United Spirits and for entering into a non-compete pact
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
Such classfication brings with a high cost, including closing of formal credit channels, and likely criminal proceedings.
SBI had moved the Debt Recovery Tribunal because Mallya owes over Rs 7,200 crore to a consortium of banks led by State Bank of India
Vijay Mallya who inherited the UB Group from his father as a young 28-year-old, said he has got "nothing to prove".
However, Mallya ranks well above Naresh Goyal of Jet Airways, who has been ranked by Forbes at 94th position with a fortune of $600 million.
The Goa villa, Mumbai office could be put on the block.
After strong statements to the contrary, UB Group chairman Vijay Mallya on Tuesday said that he was considering the merger of Kingfisher Airlines with budget carrier Simplifly Deccan (earlier Air Deccan), in which the former bought a 26 per cent stake in June. Mallya said Kingfisher had asked consulting firm Accenture to study the integration of the two airlines, including the possibility of a merger.
Vijay Mallya left India on March 2, presumably for London.
As an overnight producer of nearly 10 per cent of the world's Scotch whisky, Vijay Mallya has moved to a global liquor arena.
The matter relates to cheques issued by Kingfisher Airlines to GMR Hyderabad International Airport Ltd, which operates Rajiv Gandhi International Airport, towards charges for using the facilities at the airport for Kingfisher Airlines flights
Beleaguered Lalit Modi on Monday found support from Royal Challengers Bangalore (RCB) owner Vijay Mallya, who credited the IPL commissioner for the cash-awash Twenty20 league's mind-boggling success. Throwing his weight behind Modi, Mallya said IPL owes its success to Modi and also wondered at the hue and cry raised over trans-border transaction by some of the IPL franchisees.
Playing down Justice Mudgal committee's report on corruption in the IPL, Royal Challengers Bangalore owner Vijay Mallya said scandals were a part and parcel of the every sport and the brand value of the cash-rich event remained unaffected.
Wednesday's acquisition of Whyte & Mackay for $1.18 billion puts Mallya in the hallowed bracket.
'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.'
Occupants were served eviction orders in April this year
Force India set their sights on breaking into Formula One's top three at the launch of their new car on Wednesday and hit back at suggestions that they lack the budget to match the manufacturers in a spending 'arms race'.
United Spirits Ltd will launch five brands in China as part of its entry into the communist country's market.
Mallya and his UB Group companies, including Kingfisher Finvest, held a 32.12 per cent stake in the airlines as of September.
The judge said the assets of the respondent company cannot be left under the control of UBHL and could be handed over to official liquidator to achieve the winding up process s per the law.
India's tough stance is better late than never.
In all, 4.2 million shares were sold during the quarter.
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
All praise for his franchise owner, Vijay Mallya, Royal Challengers Bangalore cricketer A B de Villiers said the liquor baron is the 'Mr Smart' of the team.
Total disputed liability of Mallya with respect to service tax to the tune of Rs 535 cr
The matter relates to cheques issued by Kingfisher to GMR Hyderabad International Airport.
Mallya still ranks well above Naresh Goyal of Jet Airways, who has been ranked at the 94th position with a fortune of $600 million.
The 25-seater aircraft is interspersed with plush sofas, a cushioned bed, bars, showers and a bathrobe
Continuing its global acquisition drive to become the numero uno liquor player, Vijay Mallya's United Breweries is believed to have made a bid for a part of Australian giant Foster's presumably valued at $234 million.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
"I just have to ride out the storm," Vijay Mallya said.
Things appear to be going from bad to worse for Vijay Mallya, once known as 'King of Good Times', with the board of a company he nurtured into India's largest liquor maker asking him to quit.
Karnataka HC seeks probe into fund diversion by United Spirits.
United Breweries Group chief Vijay Mallya's son, Sidhartha Mallya is set to step into the world of brand endorsement with celebrity management firm KWAN signing him up to become face of some luxury brands.
Mallya has been in the UK for months, escaping arrest warrants against him.
What's common between Vijay Mallya, Ratan Tata and L N Mittal besides the fact that they are all India-born entrepreneurs looking to dominate global business? All three are victims of economic patriotism in foreign soil.
In 2010, ministry told its officers nominated on PSB boards to stay away from big-loan panels; central bank followed suit.
The UB Group, which has interests in spirits, aviation and pharmaceuticals, is contemplating entering the organised retail sector leveraging on its Kingfisher brand name.
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