Vijay Mallya's nameplate gleamed on the door of his office in the Force India hospitality at the Indian Grand Prix on Thursday while a team sponsor board outside carried the words 'Fly Kingfisher'.
Kingfisher Airlines, promoted by Vijay Mallya whose other group entities included United Breweries, owe close to Rs 7,000 crore to 17 banks.
According to the RTI reply, absconding diamantaire Choksi's company Gitanjali Gems tops the list of the defaulters with a whopping amount of Rs 5,492 crore. This is followed by REI Agro with Rs 4,314 crore and Winsome Diamonds with Rs 4,076 crore. Rotomac Global Private Limited has funded advances of Rs 2,850 crore which have been technically written off and Kudos Chemie Ltd with Rs 2,326 crore, Ruchi Soya Industries Limited, now owned by Ramdev's Patanjali, with Rs 2,212 crore and Zoom Developers Pvt Ltd with Rs 2,012 crore being the other companies to default on the payment. Mallya's Kingfisher Airlines figures in the list at number 9, with outstanding of Rs 1943 crore which have been technically written off by the banks.
Vijay Mallya's United Breweries has held a vice-like grip over the Indian beer market with the Kingfisher, Kalyani and Sandpiper brands. With 137 million cases (12 bottles each), it has a 45 per cent market share. But now multinationals are closing in on UB.
Vijay Mallya, the embattled chairman of the UB Group, is not likely to be immediately named a wilful defaulter by the United Bank of India.
The Indian-American woman, who was allegedly molested by Australian cricketer Luke Pomersbach, on Saturday, served a legal notice on Siddhartha Mallya asking him to apologise withing 48 hours for casting aspersions on her character or face legal action.
'Great to catch up with my good friend Christopher Henry Gayle, the Universe Boss.'
Liquor baron Vijay Mallya said on Wednesday that his UB Group will overtake Diageo as the world's largest spirits maker by the next fiscal. "This (fiscal) we will be selling 102 million cases of nine litres each. Next year we will be the single largest spirits company in the world," Vijay Mallya said.
Diageo on Thursday took full control of South African beer maker United National Breweries.
Formula One is due to go through a major technical overhaul next season, with wider wheels and chassis, and a more aggressive look with revised aerodynamics aimed at making the cars faster and harder to drive.
The Villa, owned by United Breweries Holding, was mortgaged by KFA to SBI-led 17-bank consortium to obtain loans in 2010
Mallya has been able to do what most businessmen dream of: combine a personal passion with a high-value business opportunity.
Kingfisher Airlines Chairman Vijay Mallya has blamed almost everyone, including engine suppliers, employees, banks and tax authorities, for grounding of the carrier since October last year.
Beleaguered Kingfisher Airlines on Wednesday announced further reduction in its flight schedule and said its promoter Vijay Mallya will meet the pilots agitating over delayed salary on Thursday.
Ten years after Kingfisher Airlines was grounded, its former employees continue to wait for their dues. On Monday, the Supreme Court awarded a four-month sentence to the grounded airline's flamboyant owner Vijay Mallya in a contempt case. The apex court also ordered him to deposit $40 million plus interest in four weeks to avoid attachment of his properties.
Mallya has said he will raise this issue in Parliament.
Both simply love to wear Kolkata-based designer Sharbari Datta's classic collection of 'dhoti' and 'kurta'.
The employees in Delhi on Monday spearheaded an indefinite hunger strike and called on colleagues nationwide to join in the protests with their families at Jantar Mantar.
Worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money, says Buffett.
All companies stock price surged on the news that UB Group has reached a deal with the world's largest spirit maker Diageo for a stake sale.
United Breweries Ltd on Friday posted a net profit of Rs 34.2 crore (342 million) for the second quarter ended September 30, as against Rs 19.5 crore (195 million) in the year-ago period.
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Force India owner Vijay Mallya on Tuesday said he would consider promising motor race driver Karun Chandhok for his Formula One team if he can finish inside top three in the GP2 Series for a couple of years.
Here's what your favourite celebrities have been up to.
UAE-based aviation support company Alna Aero Distributional Finance Holdings offered only Rs 1.09 crore.
Kingfisher Airlines will have to pay Rs 60 lakh daily for operating flights.
As per the present policy, foreign carriers are not allowed to pick stake in Indian airlines. However, the government allows FDI up to 100 per cent in other areas of the aviation sector, like developing of greenfield airports or in cargo and maintenance, repair and overhaul facilities.
Even if the Mumbai police gets to seek the e-mails, it might not bring positive results.
Capt Gopinath, in a deperate bid to fend off a possible auction of his prime residential property in Bangalore by State Bank of India, which had earlier issued notices to sell his pledged properties to recover as much as Rs 259 crore (Rs 2.59 billion), has struck a deal with Sobha Developers to raise funds.
SGI Commex chairman G S Srivastava, an art connoisseur, said the aircraft, an Airbus A319-133 with registration of CJ VT-VJM, will be converted into an art pilgrimage venture
The consortium led by SBI has also initiated the process of recovery.
He is part of an unenviable list of MPs who have been expelled from Rajya Sabha.
Lenders to Kingfisher Airlines (KFA) will meet its promoter, Vijay Mallya, and the rest of the brass on Monday, to chart a way forward for the grounded airline.
The carrier had planned a GDR issue in December last year to reduce its debt but had failed to do so as its stock prices began slumping.
Following the government move to allow FDI policy in the civil aviation sector, Chairman of debt-ridden Kingfisher Airlines Vijay Mallya on Wednesday said the carrier was in talks with foreign airlines.
Liquor baron Vijay Mallya, who acquired 26 per cent stake in the country's largest budget carrier, Air Deccan, for Rs 550 crore (Rs 5.5 billion) on May 31, is still in high spirits.
Liquor baron Vijay Mallya's Kingfisher Airlines will commence operations during the first quarter of 2005.
