Mallya had bought the pedigree scotch major, based in Scotland, for $1.2 billion in 2007.
Embattled Indian business tycoon Vijay Mallya on Friday made a rare public appearance in the United Kingdom as he attended the free practice sessions ahead of Sunday's British Grand Prix, in Silverstone.
They said creditors would be paid in full and all 405 jobs at the Silverstone-based team, that was co-owned by embattled Indian businessman Vijay Mallya and finished fourth last year, were safe.
The Force India owner thinks Karun Chandhok has some way to go before he can find a place in the F1 cockpit.
In March this year, the banks tried to sell the Kingfisher House in Mumbai to recover a part of their dues.
Though the UB Group chairman didn't name anybody, some of these associates could be the owners of Balaji Distilleries, whose breweries and distilleries were acquired by UB Group companies -- United Spirits and United Breweries -- during the last financial year.
"Vijay wanted to know if I was going to bid and I said I would," Chatwal said. "As I chatted with him it was clear to me that he too wanted to donate the items to the Navjivan Trust. I then decided I would not bid.
Liquor baron Vijay Mallya has bought most of the items related to former Mysore ruler Tipu Sultan which went under the hammer for over 1 million pounds with Sotheby's auctioneers in London.
Force India are hoping Nico Hulkenberg's triumph at the Le Mans 24 Hours race will have a knock-on effect for them at next weekend's Austrian Formula One Grand Prix.
Battling financial crisis, Kingfisher Airlines Chairman Vijay Mallya on Tuesday said he has not asked for a bailout from the government but wants the lenders to help with Rs 700-800 crore (Rs 7-8 billion) working capital as short-term need and interest concessions.
The VJM02 will remain the same blindingly fast car, with or without Giancarlo Fisichella, and Adrian Sutil is good enough to score points in the remaining five races of the 2009 season, said Force India chairman Vijay Mallya.
Sahara Force India team principal Vijay Mallya was a satisfied man after his team achieved the target of registering points in the inaugural Indian Grand Prix with Adrian Sutil managing to bring home the car inside the top 10 bracket, in Greater Noida, on Sunday.
In a conversation with Business Standard after an eventful annual general meeting of Kingfisher, he clears the air on many aspects.
The proclamation was issued by a special anti-money laundering court on June 14 under Section 82 of the Criminal Procedure Code
Low-cost carrier Kingfisher Red will shut down in four months with the airline group chief Vijay Mallya on Wednesday saying several measures have been initiated to face financial problems caused by high interest burden and burgeoning fuel costs.
The double finish in the season-opening Australian Grand Prix on Sunday ticked all the boxes barring aerodynamics and Force India is just a few refinements away from its maiden Formula One points, owner of the Silverstone-based outfit Vijay Mallya said. Mallya said reliability was his main concern coming into the 2009 session but the Australian Grand Prix dispelled all fears and aerodynamic development is all the VJM02 needed to break the duck.
He has shifted to Los Angeles and registered himself as Sid with the Screen Actors Guild.
Here's everything you need to know about Barrack 12 at Arthur Road jail, where Mallya may be lodged As we await the next move, here's everything you want and need to know about Barrack 12 at Arthur Road Jail.
On June 30, the department had rejected the sole bid of Rs 1.09 crore offered by the United Arab Emirates-based aviation support firm Alna Aero Distributional Finance Holdings, against a reserve price of Rs 152 crore
Acquires 50 per cent stake for $36 million in United National Breweries.
In fresh trouble for liquor baron Vijay Mallya, United Bank of India has identified United Breweries Holdings, the guarantor of grounded airline Kingfisher, as wilful defaulter.
Force India will give Karun Chandhok an opportunity to prove his F1 mettle but team owner Vijay Mallya is bemused by the romanticism that the Chennai driver deserves a seat in the outfit just because he is an Indian.
Force India team owner Vijay Mallya believes his team can recover from the disastrous showing in 2008 and aim to regularly score points in the upcoming Formula One season.
Force India co-owner Vijay Mallya has defended his decision of not having an Indian driver in his Formula One team.
Force India co-owner Vijay Mallya has rejected speculation about his Formula One team's finances, saying they will be racing for years to come.
Vijay Mallya-owned Kingfisher Airlines, which plans to raise $400 million from private equity investors, may have to settle for structured finance such as sale and leaseback or securitisation of receivables, say private equity experts in Mumbai.
Q&A with UB Group chairman Vijay Mallya on Diageo deal
'Somehow, I don't see the Modi government shutting down Air India.' 'So, Mallya may prove to be luckier than the government; at least his financial clock has stopped ticking,' says T N Ninan.
United Breweries Ltd Chairman Vijay Mallya received over Rs 1.4 crore as commission and sitting fees during 2011-12 from the company.
Liquor baron Vijay Mallya has dropped plans to contest the coming Rajya Sabha elections from Maharastra and seek re-election only from Karnataka. Admitting that he had talks with Shiv Sena leader Uddhav Thackery on possibilities of his contesting from Maharashtra, the head of the Kingfisher Airlines said he did not get a good response as 'Sena is not fully in favour of non-Maharastrians'.
Throughout its 155 minutes, every scene is doused in blaring background music and melodrama. Disappointment alone won't do, it must feel like a full blown catastrophe, observes Sukanya Verma.
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.
Senior lawyer M V Kini agrees to fight their case for free, given their financial condition
While guarantees given by Mallya fell from Rs 6,156 crore (Rs 61.56 billion) in the previous year 2010-11, the guarantees provided by Kingfisher's holding and associate companies rose from Rs 8,863 crore (Rs 88.63 billion) to Rs 8,926 crore (Rs 89.26 billion) in this period.
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.
With United Spirits all set to be acquired by Diageo, there aren't too many local spirits barons of significance and stature left.
