The 14 banks, led by State Bank of India, which lent Rs 6,500 crore (Rs 65 billion) to the airline, are now involved in litigation over the money, as Mallya has sued them in multiple courts.
Shares of low-cost airline IndiGo hit record high on the bourses soon after reports of pilot crisis at Vistara emerged. The development also saw airfares surge by around 25 per cent on select routes. Shares of IndiGo hit a lifetime high of ~3,68.5 on April 2, 2024, and has gained 2.4 per cent on the bourses in April.
The foreign institutional investors have more than doubled their holding to 2.46 per cent stake in Vijay Mallya-led UB group's Kingfisher Airlines, while small individual shareholders hiked their holding significantly to 17.59 per cent during the quarter ended September 30.
Losses and lack of bank funds no reason to shut company, says minister
UB Group Chairman Vijay Mallya has turned down suggestions from banks that he should give a personal guarantee as a precondition for additional funding to the cash-strapped Kingfisher Airlines.
Among the country's three listed airlines also, Kingfisher chief executive officer Sanjay Agarwal's pay package was the second highest in the last fiscal ended March 31, 2012, as per the remuneration details provided in their annual reports.
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.
The parent company, UB Group, is willing to pump in money.
The Enforcement Directorate, which is investigating possible violations of the Foreign Exchange Management Act by some former UBS employees, has written to the UK's Financial Services Authority, seeking details of the alleged misuse of accounts of Anil Dhirubhai Ambani Group-controlled Reliance Energy and Reliance Natural Resources.
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
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.
Acquires 50 per cent stake for $36 million in United National Breweries.
Vijay Mallya has ensured that his brands do not fall out of Indian Premier League (IPL) viewership, though his team Royal Challengers Bangalore bowed out of the tournament. After RC's series of defeats, the UB Group chairman decided to cash in on his smaller investments in rival teams such as Rajasthan Royals, Delhi Daredevils, Chennai Superkings and Mumbai Indians.
Spin bowler Harbhajan Singh's mother has filed a legal notice against a liquor company for running an advertisement in which captain Mahendra Singh Dhoni ridicules her son, local media reported on Tuesday.
The company agrees to give interim funding till the airline gets an equity partner
Liquor-baron Vijay Mallya today virtually asked the Gujarat government to lift prohibition in force in the state.
Kingfisher Airlines's has hit a rough patch again with three of its directors resigning for better prospects.
After hearing Kingfisher's plea, the COMPAT observed that the CCI had acted beyond its scope in the matter and set aside the penalty.
According to the The Times, the move is a part of a drive to cut UB Group's $4 billion (2.5 billion pounds) debt.
Mallya is the first Indian ever to become the owner of a Formula One Team. The Netherlands-based Mol Family and Mallya have formed a consortium that is now the joint owner of Force India Formula One, which is also India's first-ever Formula One Team and represents India's first, truly global sports foray.
Mallya had bought the pedigree scotch major, based in Scotland, for $1.2 billion in 2007.
Q&A with UB Group chairman Vijay Mallya on Diageo deal
UBHL chairman sold 8.41% stake, but didn't disclose.
With no end in sight to the 16-day impasse over a lockout and strike by its workers, Kingfisher Airlines management has called a meeting with their representatives on Wednesday in a last-ditch effort to convince them to return to work.
Mallya has been contending that he is the rightful owner of 'Officers Choice' and not Chhabria who currently owns it under his company Allied Blenders and Distillers.
Nearly six months after he put the stake sale process of Whyte & Mackay on the fast track to find a solution to United Spirits' high leverage, UB Group Chairman Vijay Mallya is understood to be nearing a deal to offload 49 per cent stake in the flagship subsidiary.
To help UB raise above half the buyout cost of Rs 4,620 cr.
After excluding the shares they have pledged, the promoters hold a meagre 3.55 per cent in the crisis-ridden airline.
The company has a wide-ranging client base spanning across consumer durables to retail groups like ITC, UB Group and WalMart. It is also in the process of designing various white goods for its clients in the consumer durable industry.
After some initial take off turbulence, Gopinath is now actively steering the air cargo business steadily with equity infusion from Reliance Industries.
Continuing with his acquisition juggernaut on foreign shores, liquor baron Vijay Mallya of United Breweries Group has now set his sights on New Zealand based company Independent Liquor Ltd.
The company's board approved the airline's plan to raise the amount through issuance of equity shares or preference shares or through global depository receipts.
United Spirits Ltd (USL), flagship spirits company of the UB Group, has finally decided on foreign currency convertible bonds (FCCBs) to raise as much as $225 million (Rs 1,190 crore). The plan is to raise up to $175 million, plus an over-allotment option of $50 million.
Market regulator Sebi has sought additional details from global liquor giant Diageo with regard to its Rs 5,441 crore (Rs 54.41 billion) open offer for acquiring 26 per cent stake in UB Group firm United Spirits Ltd.
Force India's co-owner Vijay Mallya has rubbished speculation that he is planning to sell his stake in the Formula One team to Sahara India.
The Supreme Court on Tuesday issued notice to the market regulator Securities and Exchange Board of India on the issue of settlement reached between Vijay Mallya's UB Group and Chhabria Group
Bollywood actor Salman Khan launched the Kingfisher Calendar 2011 in Mumbai over the weekend. Here's a look at the stars in attendance!
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