India has no Formula One driver and there will be no Grand Prix here next year but Force India co-owner Vijay Mallya believes he has unearthed the country's next driving talent in a Mumbai teenager.
United Bank's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion)
The internal bickering of the Bangalore Royal Challengers is out in the open with team owner Vijay Mallya revealing that he was at loggerheads with captain Rahul Dravid and the outfit's sacked CEO Charu Sharma over players' selection for the Indian Premier League.
With United Spirits all set to be acquired by Diageo, there aren't too many local spirits barons of significance and stature left.
Embattled Force India team boss Vijay Mallya made his Indian Grand Prix entrance in combative mood on Saturday, lashing local media for their coverage of his business troubles and grounded Kingfisher airline.
India's foreign direct investment policy allows foreign investors to pick up 49 per cent stake in domestic airlines, but foreign airlines are not permitted.
The US Federal Aviation Administration has yet to certify Epic's planes. The company manufactures private business jets with single and twin engines, capable of carrying six to seven people.
Spyker's director of Formula One, Michiel Mol, has teamed up with Vijay Mallya to make a Euro 90 million bid for the cash-strapped team.
Troubled businessman Vijay Mallya claimed that he paid mere US $100 to buy Barbados Tridents, a franchise in the Caribbean Premier T20 League.
Even though both the drivers finished inside the top 10 Force India chairman Vijay Mallya said he had expected the Canadian Grand Prix to yield more points for the Silverstone-based outfit.
Force India finished sixth in 2014 but spent much of last season calling for cost cuts.
The incident occurred in Bagalkot district in northern Karnataka.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
The base price for the property was set at Rs 150 crore (Rs 1.5 billion).
Liquor baron Vijay Mallya is believed to have acquired Bouvet-Ladubay, the wine subsidiary of French champagne major Taittinger for $15 million.
Abay Kewadkar, director, Four Seasons Wines, says there is room for expansion of the facility based on initial consumer feedback to the initiative.
Any race that has to be run in India has to be run under the banner of the recognised affiliate, says the FMCI chairman.
For providing the additional level of collateral for its funding needs, the company paid a little over Rs 50 crore (Rs 500 million) to Mallya as 'guarantee and security commission' during the year ended March 31, 2011, Kingfisher has told its shareholders.
Maintaining that civil aviation flew thousands of tonnes of equipment and passengers across the country on a daily basis, he said grant of infrastructure status would help the industry in its dealings with the RBI as well as the commercial banks, both in the private and public sectors. On Kingfisher's global plan, Mallya said the airline would launch services to Hong Kong and Singapore as soon as its aircraft were ready.
In a meeting later this week, bankers will insist on a commitment on funds. But many say Kingfisher better not fly again under a promoter who just blew money trying to run a glamorous airline.
The earlier attempt at its auction had received a bid of Rs 1.09 crore as against the then reserve price of Rs 152 crore
Karun Chandhok can kiss his Force India ambitions good-bye, at least for the time being, after chairman of the resurgent outfit Vijay Mallya said he doesn't consider any Indian driver good enough for Formula One.
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'The approach towards Mallya is not right because his unit could have been turned around earlier with additional funds from his side and the bank's side.'
Flamboyant Indian tycoon Vijay Mallya was pipped to the post by Mexican billionaire Carlos Slim Helu in the race for acquiring the Honda Formula One team, according to media reports in Rome.
Bombay high court on Tuesday refused to restrain banks from selling shares of United Spirits pledged as security against loans to Kingfisher.
California-based Mendocino Brewing Company, which sells a number of beer brands including Kingfisher in the US, has got Mallya as its chairman and is owned by UB Group through a complex shareholding structure
The agency has stated in detail in the charge sheet how funds of about Rs 400 crore were moved abroad in alleged violation of rules.
Force India Formula One team co-owner Vijay Mallya has warned the country not to expect too much from the team in 2008 despite a big budget increase. The Indian billionaire bought into the Spyker team and renamed it after last season and interest has been drummed up further through advertisements about "the force of a billion hearts."
The government on Thursday said Kingfisher Airlines has not yet given a revival plan to restart operations, even as employees are aggrieved over non-payment of salaries.
Share purchase agreement awaits Karnataka HC decision on Kingfisher creditors' plea.
A court warrant in India against billionaire Vijay Mallya over his airline business has no repercussions for his Force India Formula One team, deputy principal Bob Fernley said on Sunday.
The deepening of the Formula One financial crisis prompted Force India boss Vijay Mallya to say that the sport's owners must fix the revenue sharing model among teams for the survival of smaller outfits like his.
Royal Challengers Bangalore owner Vijay Mallya on Sunday backed Mumbai Indians in its fight against the alleged rigging of the IPL 4 auction and called for more 'transparency' and 'inclusive approach' in the administration of the Indian Premier League.
Brewing billionaire Vijay Mallya's woes seem to be compounding. His flagship spirits arm, United Spirits Ltd (USL), is starting to mirror Kingfisher Airlines.
