After razing his ancestral bungalow, housed in an expansive 4.5-acres of prime location in the central business district of Bangalore, Mallya's attempt to unlock value in the land by building the luxury KingfisherTowers has been stalled.
Reliance Industries' (RIL's) consumer business is expected to lead earnings growth in the Q3FY24 performance, according to analysts. While the energy business is expected to show sequential weakness, the consumer business, especially retail, is estimated to show strong growth. The oil-to-telecom conglomerate will announce its Q3FY24 financial results on Friday.
Mallya said he was being advised by lawyer Harish Salve.
UBS has already recruited 180 people in the city.
Poddar-Mallya agreement on running MCF likely to be re-worked.
He manages to get back a majority of pledged shares.
Diageo gets assurance, Heineken may seek one, too.
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
UB Group-controlled carrier to convert short-haul domestic routes with less demand for business class to all-economy configuration.
Kingfisher has faced lawsuits from GMR and GVK-group run airports and also faced cases of cheque bouncing.
In a conversation with Business Standard after an eventful annual general meeting of Kingfisher, he clears the air on many aspects.
If the offer is accepted, banks will have to take a haircut of about 30 per cent or Rs 2,500 crore of the total receivables of over Rs 9,000 crore.
Vijay Mallya-led UB Group is all set to meet the month-end deadline for payment of Rs 400 crore (Rs 4 billion) balance toward 26 per cent stake it had picked in Deccan Aviation, the promoter of low-cost carrier Air Deccan.
Analysts have given a thumbs up to the Reliance Industries (RIL) and Walt Disney Co. (Disney) proposed a joint venture (JV). The stock of the Mukesh Ambani-controlled company gained nearly 1.5 per cent on Thursday to Rs 2,952 levels as compared to the S&P BSE Sensex that traded marginally weak, down 0.2 per cent to 72,172 levels in intra-day trades.
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Justice Ram Mohan Reddy asked Mallya to appear in court and bring along his passport.
Other corporate leaders, including Biocon chief Kiran Mazumdar Shaw, UB Group Chairman Vijay Mallya and Mahindra Group vice-chairman Anand Mahindra, have also expressed concerns over the current state of economy in the country.
Anil Ambani has interests in power, telecom and other infrastructure sectors.
Mallya and UBHL now hold a little over 3.3 per cent in USL.
W&M's single malts and vodka brand could help UB improve its position at the premium end of the Indian spirits market
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
Mallya will now be the Founder Emeritus of USL
Mallya holds a 32.86 per cent stake in United Breweries, after having ceded control to Dutch brewer Heineken in December last year.
East Bengal are likely play an exhibiton match against top English Premier League side Tottenham Hotspur nine days before their arch rivals Mohun Bagan take on the German club Bayern Munich at Salt Lake stadium on May 27.
While it will most certainly impact his personal credit record, it will also have repercussions for his other businesses and companies he is associated with.
Mohun Bagan general secretary Anjan Mitra demanded that the court-appointed special officers convene a tripartite meeting immediately to sort out the imbroglio.
On Monday, the ministry withdrew foreign traffic rights it had granted to Kingfisher Airlines.
Force India has been re-named Sahara Force India after the Sahara Group bought stake in the Vijay Mallya-owned Formula One team. As per the agreement between the parties, Sahara Group and Mallya's UB Group will have 42.5 percent stake each in the team.
Mallya donated the gold after offering worship and requested temple authorities to use it for gilding the doors at the sanctum sanctorum, Tirumala Tirupati Devasthanams deputy executive officer (temple) Chinnamgari Ramana told PTI.
The low-profile chief of Deepak Fertilisers on Wednesday bought 24.46% shareholding in MCF.
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
The move also invalidates, albeit temporarily, Mallya's repeated assurances to the court and the public of a revival plan for the carrier.
Some of India's largest groups, including the Tata family controlled companies, the Ambani family controlled Reliance and Vijay Mallya's UB Group, have pledged large stakes in their listed companies as collateral to lenders, new disclosure requirements reveal
Mallya intends to protect his shareholding in India's largest brewer in which Dutch brewer Heineken holds 37.5% stake.
Kingfisher chief executive officer Sanjay Agarwal met Director General of Civil Aviation Arun Mishra in New Delhi for 45 minutes to apprise him of the prevailing scenario facing the airline, but sources said he gave no information about any commitment by the airline's parent company, UB Group, on financing the revival plan.
Aviation Minister said that the UB group did not say they are going to give money to the ailing airline.
SBI is likely to register more FIRs to bring into the ambit of probe the additional Rs 3,100 crore loans from 10 other nationalised banks on which the company has allegedly defaulted.
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