Days after acquiring control of Air Deccan, Kingfisher Airlines Chairman Vijay Mallya now looks at rationalising the fleet of the two carriers and considering changes in the total fleet order of 90 aircraft.
Kingfisher Airlines, promoted by the UB Group, expects to get into the black in December. According to Ravi Nedungadi, president and CFO, UB Group, the airline has been driving in volumes and efficiencies which is likely to be reflected in the revenues this month.
Three days after the June 22 felicitation in New Delhi by BCCI, Kapil Dev and rest of India's 1983 World Cup winning team would revisit Lord's, where they had scripted the most memorable chapter in the history of Indian cricket 25 years ago.
The UB Group, which has interests in spirits, aviation and pharmaceuticals, is contemplating entering the organised retail sector leveraging on its Kingfisher brand name.
Vijay Mallya-promoted UB Group on Tuesday said it has received shareholders' approval for the deal and has put in place an escrow mechanism to complete the transaction.
The aircraft was earlier owned by EIH (Oberoi group).
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
Leaving behind rivalry over acquisition of shares of liquor company Herbertsons Ltd, the UB group and the Chhabrias on Monday agreed in the Supreme Court
UB Group's Kingfisher Airlines, which is scheduled to launch domestic operations from April next, would sign a deal with European aircraft manufacturer Airbus Industries for supply of 14 aircraft in Mumbai on December 18.
The offer, open on April 10-26, was meant to acquire close to 38 million shares at Rs 1,440 a piece.
A week after lenders invoked more of pledged shares, they did so again.
Lenders to Kingfisher Airlines, led by State Bank of India, had moved courts to get residual rights over these shares after Srei recovered the collateral from the defunct Kingfisher Airlines, making it difficult for Srei to sell the shares, said a legal source.
Future group promoter Kishore Biyani's stake fell consistently across group companies since December 2019 after American retail major Amazon infused funds in a Future group promoter entity and the group companies started showing signs of financial distress due to closure of stores due to Covid-19 pandemic. As lenders take Future group companies to the bankruptcy courts to recover their dues under the Insolvency and Bankruptcy Code, the shareholders of Future group companies are staring at complete wipeout of their investments as secured lenders get top priority in any potential recovery, say lawyers. "The fate of all Future group shareholders is now sealed with them looking at a complete loss.
Asked to quit United Spririts' board, Vijay Mallya struck a defiant note saying he 'intends' to continue as its Chairman.
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
RBI, Enforcement Directorate to see if money was sent to tax haven
Such an exit arrangement is commonly known in the business parlance as 'golden parachute' or 'sweetheart deal'
The two giants of Indian football, Mohun Bagan and East Bengal, are facing turbulent times. On the pitch, East Bengal finished a respectable third in the 2012-13 I-League season, while Mohun Bagan finished a disappointing tenth.
Mallya left the country on March 2 and has had his passport revoked.
Swiss brokerage UBS said Nifty will scale the 8,000-mark by December even though market expectations from government remain "unrealistically" high.
A case has been lodged against UB group chairman Vijay Mallya by farmers allegedly for forgery in the Patna district police on Thursday said.
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Lawyers say open offer must for twin stake purchase to meet Sebi rules.
Karnataka HC seeks probe into fund diversion by United Spirits.
Ritu Mallya, step mother of Vijay Mallya, has joined the board of Mangalore Chemicals and Fertilisers.
The money was paid to Mallya in two tranches in his offshore accounts.
Pune firm buys 24.46% stake from open market to become largest shareholder.
Swiss bank UBS has been fined Pounds 8 million in the United Kingdom after four of its senior employees were found misusing funds of customers, including two companies of Indian industrialist Anil Ambani-led group.
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.
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
The tax authorities have been piling pressure for a long time against Mallya and on Kingfisher Airlines to cough up the dues.
In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
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