Mallya claims private airlines were discriminated against by the Indian government, which bailed out state-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
Diageo on Thursday took full control of South African beer maker United National Breweries.
The agency did not seek a reappointment in FY12.
United Spirits wants to align its resources to meet its goals of becoming a trusted and respected consumer goods company.
Heineken could call a shareholder meeting to vote on his ouster from a company his father built into a family empire
Since its results for the first quarter of the 2023-24 financial year (Q1FY24) earlier this month, the stock of auto component major Bharat Forge is up nearly 15 per cent and hit its all-time high in the process. The recent gains have extended the returns over the last three months to over 34 per cent. After a strong Q1 performance which beat expectations, brokerages had revised their earnings estimates upwards to factor in the improved outlook.
UB group chairman Vijay Mallya on Tuesday said that Delhi Chief Minister Arvind Kejriwal was pursuing "unconventional methods" to attain his objectives while asserting that there should be no "witch-hunt" against industrialists.
It is understood he is moving court indicating lenders had been rough with him and, hence, caused damage.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Mallya has denied that he had fled India and said he would comply with laws.
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Diageo, which recently coughed up a total of Rs 18,000 crore (Rs 180 billion) to take majority control of USL, seems to have a lot of faith in him.
"I am an international businessman. I travel to and from India frequently.
Mallya's Rajya Sabha declaration lists investments in racing, finance and investment firms.
Vijay Mallya had indicated last month that he wanted to move to the UK to be closer to his children.
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.
Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
He has also said that the overall mood of the Indian consumer remains subdued
SBI-led consortium expects to make over Rs 13,000 crore from sale of assets
"I just have to ride out the storm," Vijay Mallya said.
'It is surprising and unfortunate that unfounded allegations are now being made without any reference to me whatsoever,' Vijay Mallya said.
The parent entity, (Holdings) Ltd, have also expressed concern over the company's significant exposure to the airline.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
Mallya showed his net worth at Rs 615 crore, mainly in shares and bonds.
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.
The 25-seater aircraft is interspersed with plush sofas, a cushioned bed, bars, showers and a bathrobe
Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
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.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
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
Nalapad allegedly thrashed a man in a pub in Bengaluru's UB City mall.
United Breweries Group Chairman Vijay Mallya said on Friday his group was eyeing acquisition of a large Scottish whiskey company, with an enterprise value of around Rs 4,000 crore (Rs 40 billion).
UB Group Chairman Vijay Mallya is no longer a member of India's 100 Richest club, even as fortunes of the country's uber-rich have seen a significant growth since last year.
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.
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.
If the rupee falls further, it would negatively impact the dollar-based returns of foreign investors, and could influence foreign flows into India.
Lewis Hamilton assured activists that he would not let human rights issues go unnoticed.
