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.
'It is surprising and unfortunate that unfounded allegations are now being made without any reference to me whatsoever,' Vijay Mallya said.
He has also said that the overall mood of the Indian consumer remains subdued
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.
SBI-led consortium expects to make over Rs 13,000 crore from sale of assets
Mallya showed his net worth at Rs 615 crore, mainly in shares and bonds.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
There is much more that the government can do to track money hidden abroad.
Liquor baron takes on to Twitter again to lash out at the media for trying to hunt him; asks them not to waste their efforts
If the rupee falls further, it would negatively impact the dollar-based returns of foreign investors, and could influence foreign flows into India.
The parent entity, (Holdings) Ltd, have also expressed concern over the company's significant exposure to the airline.
According to the the wealth-X and UBS billionaire census report 2013, India's billionaire population has decreased by 5.5 per cent to 103 and the total billionaire wealth has fallen by $10 billion to $180 billion.
UK-based Diageo paid Rs 3,030 for a share of United Spirits Ltd, more than double of Rs 1,440 it offered in the previous bid last year.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
Beleaguered businessman Vijay Mallya on Thursday told the Supreme Court that banks have no right over the information of his overseas movable and immovable assets as he was an NRI since 1988.
The airline, part of Vijay Mallya-led UB Group, has been grounded since October 2012, after being bogged down by huge and mounting losses.
Bharti Airtel's fund raising is expected to strengthen its competitive positioning in the market and provide the telco with the necessary ammunition for aggressive 5G rollout, analysts said. The capital raising announcement, though unexpected and surprising, would enable Airtel to enhance its market share and provides it wherewithal to make faster investment in a scenario India moves to a two-player market earlier than expected, some analysts felt. Bharti Airtel's board on Sunday approved raising up to Rs 21,000 crore by way of rights issue at a price of Rs 535 per share.
Sahara India needs to pay back $5.3 billion, raised from millions of small investors through the sale of bonds ruled by the Supreme Court to be illegal, before founder Subrata Roy can be released.
Diageo, the world's largest distiller, has been focusing on compliance at United Spirits Ltd (USL) after its acquisition of a controlling stake in India's largest spirits maker.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
At the beginning of this year, his stake in the airline stood at 30.14%.
Mallya is a fugitive from justice in India, Attorney General Mukul Rohatgi told the Supreme Court.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
The 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
A spokesperson said Sahara group is not into business with Trinity.
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.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
These transactions have come for shareholders approval because of requirements under the new companies law and amended listing agreements.
'The appellant (Mallya) has five business days to apply for oral consideration. If a renewal application is made, it will be listed before a high court judge and dealt with at a hearing,' a spokesperson for the UK judiciary said.
SBI, the country's largest lender, had recently issued public auction notices to sell Gopinath's pledged properties
Many, including DLF, Suzlon, UB, the Tata and the Aditya Birla Group are selling stake or assets to reduce debt and the strain on their balance sheets. That's because they have been hit either by slowing sales, or have a big exposure to markets in the West where demand has contracted sharply as a result of the economic downturn.
From UB40 to Punjabi MC to Apache Indian, the musicians gave the spectators an evening to remember as athletes walked out for the closing.
More than half of Mallya's total package for 2015 has been paid by Mendocino Brewing Company for 'promoting' the company's beer brands
ED had earlier issued summons to Mallya for "personal appearance" on March 18 under the provisions of the Prevention of Money Laundering Act (PMLA).
