On April 20, the Special Magistrate Court had convicted Mallya and others, in connection with bouncing of two cheques of Rs 50 lakh each
Force India co-owner Vijay Mallya has steered his Formula One team through a decade of growth and is looking forward to another, although the 'India' moniker looks destined to be dropped.
The judge, during arguments, said it was "blindingly obvious" that "rules were broken by the bank" and that they had "gone against their own guidelines" in extending a loan to the business tycoon's now defunct Kingfisher Airlines.
Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
Liquor baron Vijay Mallya on Thursday said the acquisition of Air Sahara by Jet Airways was expected and it would not affect his Kingfisher airlines as it was doing "well".\n\n
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
Barely a day after Force India's historic podium finish at the Belgian Grand Prix, a war of words broke out between Sports Minister M S Gill and Vijay Mallya on the government's refusal to acknowledge Formula One as a sport.
Crisis-ridden Kingfisher Airlines would come up with a recovery road map in three days, chairman Vijay Mallya promised on Thursday.
Former prime minister H D Deve Gowda on Saturday tried to downplay the controversy surrounding liquor baron Vijay Mallya in connection with the money laundering case.
Kingfisher promoter Vijay Mallya is ready to infuse Rs 425 crore (Rs 4.25 billion) into the airline and restart its limited operations as soon as DGCA gives a go-ahead, the lead lender to the grounded carrier SBI said.
Mallya will now be the Founder Emeritus of USL
A huge monkey off Force India's back, team chairman Vijay Mallya said the Formula One outfit has actually delivered on its promise of a podium finish one year before the 2010 deadline it had set.
Fresh trouble seems to be brewing for liquor baron Vijay Mallya, with Mumbai International Airport(MIAL) deciding to sell a mid-sized corporate jet owned by his group company.
A court in Bulandshahr (Uttar Pradesh) has asked the Bangalore Police to ensure the presence of Kingfisher Airlines chief Vijay Mallya before it on October 31 on a pilot's petition alleging that the company was withholding his dues.
UBI's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion) as part of consortium led by State Bank of India.
UBHL chairman sold 8.41% stake, but didn't disclose.
Sebi to look into disclosure, other lapses in the Vijay Mallya, Diageo case.
'Since CBI directly reports to PM CBI couldn't have allowed without approval from top,' Kejriwal tweeted
ED has submitted a chart of total $60.54 million received by the firms directly or indirectly owned by Talwar between April 23, 2008 to February 6, 2009.
Though FDI is allowed in the sector, foreign carriers cannot acquire stakes in Indian airlines.
United Bank of India has asked Vijay Mallya and three other directors of grounded Kingfisher Airlines to appear before a panel of the bank at the head office in Kolkata on July 9.
Usha Ananthasubramanian said the bank will leave no stone unturned to recover unpaid loans.
Mallya donated the gold after offering worship and requested temple authorities to use it for gilding the doors at the sanctum sanctorum, Tirumala Tirupati Devasthanams deputy executive officer (temple) Chinnamgari Ramana told PTI.
Pai said he was also against 'naming and shaming' willful defaulters of bank loans.
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.
Force India will take action against their German driver Adrian Sutil only if he is formally charged with assault, the Formula One team's owner Vijay Mallya said on Thursday.
The debt-laden Kingfisher Airlines stopped operations in October 2012.
This is the first time an airline has made such a request to the ministry after the Tata-Singapore Airlines deal fell through in 2001 (Singapore Airlines was to have a 49 per cent share in the joint venture). The Indian government does not allow direct or indirect investments in domestic airlines, a move that was meant to protect domestic carriers. Mallya's request marks a sharp change from domestic players' stand.
UB Group chairman and Rajya Sabha member Vijay Mallya and Air Sahara chief executive officer U K Bose were on Monday honoured with the Distinguished Fellow Award, 2003.
The CCI in an order dated February 26 approved Diageo's proposed majority stake purchase in Mallya-led United Spirits, saying the deal would not have adverse impact on competition.
Essential to the larger-than-life image of United Breweries Chairman Vijay Mallya cultivated were the appendages -- the yachts, private aircraft and houses all over the world.
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.
At a 'Khaat Sabha' in Sant Kabirnagar district on Wednesday, Rahul referred to the incident of locals taking away the cots brought for the meeting, saying, "Our opponents see farmers as poor persons but I always feel that farmers are the real power of Hindustan."
The Debt Recovery Tribunal (DRT) on Tuesday directed Diageo Plc not to disburse $40 million of the $75 million sweetheart deal to him.
'How long can you lead a life like this?'
The services of Kingfisher can be restored only after the DGCA is convinced that the carrier can provide safe and sustainable operations.
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
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