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.
A spokesperson said Sahara group is not into business with Trinity.
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 HC also offered a ray of hope to the hundreds of employees of UB-Group owned now-grounded Kingfisher Airlines, who have not been paid monthly salaries for over a year now.
The 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
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%.
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.
Mallya is a fugitive from justice in India, Attorney General Mukul Rohatgi told the Supreme Court.
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
This will be the largest M&A by an Indian firm, to be complete by January-end.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
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.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
These transactions have come for shareholders approval because of requirements under the new companies law and amended listing agreements.
ED had earlier issued summons to Mallya for "personal appearance" on March 18 under the provisions of the Prevention of Money Laundering Act (PMLA).
More than half of Mallya's total package for 2015 has been paid by Mendocino Brewing Company for 'promoting' the company's beer brands
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According to data reviewed by Business Standard, the dues from UB Holdings alone to USL shot up by 4.3 times to Rs 1,188 crore (Rs 11.88 billion) by the end of the last financial year, compared to an outstanding of Rs 272 crore (Rs 2.72 billion) by the end of FY12.
'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.
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
SBI, the country's largest lender, had recently issued public auction notices to sell Gopinath's pledged properties
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009.
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
The company hires Accenture for financial re-engineering, including slashing of debt ratios; changes to be visible soon
The sale came when Mallya was trapped in a sea of debt, mainly as a result of the losses his now grounded carrier, Kingfisher Airlines, had been piling.
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Banks, real estate and metal scrips among the top losers.
It was the relentless pursuit of justice over a decade by a group of senior citizens that resulted in the Supreme Court's order for demolition of the illegal 40-storey twin towers of a real estate group in Noida.
In a thread of tweets, Mallya claimed, "The airlines struggled financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where banks money went. I have offered to repay 100 % of the principal amount to them. Please take it."
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
According to a report in the Financial Times, two UBS bankers tried to create Pleuri, an offshore vehicle through which Ambani 'could illegally invest in securities at home'.
'Civil matters like loan recovery are being connected with criminal allegations, without any basis.'
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
The Survey shows fiscal consolidation despite slowdown in growth.
Even as Tata Steel mulls over its next move in the race for Corus Group, its rival suitor Companhia Siderurgica Nacional
There is much more that the government can do to track money hidden abroad.
In a statement issued from New Delhi, Ambani-led Reliance group, however, said that no charges have been levelled against them by the UK regulators in these proceedings.
Speaking to reporters Mallya said, "It will all become clear in court".
According to two independent sources in the know, the group is exploring the possibility of tapping private equity investors for a significant minority stake in the company or may even exit the business, provided it gets a significant exit premium.
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