Poddar-Mallya agreement on running MCF likely to be re-worked.
Mallya will now be the Founder Emeritus of USL
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.
A Special Court for Economic Offences has ordered summons to be issued against him over dues from his Kingfisher Airlines to the I-T Dept.
The board of Deccan Aviation, India's largest budget carrier, will meet in Bangalore on Wednesday to consider the merger with the UB Group's Kingfisher Airlines, which bought a stake in the carrier recently.
Kingfisher has faced lawsuits from GMR and GVK-group run airports and also faced cases of cheque bouncing.
Kolkata-based United Bank of India, which had earlier declared Kingfisher Airlines and its four directors, including Mallya as wilful defaulters, on Tuesday identified UBHL, the guarantor of the grounded Kingfisher Airlines, also a wilful defaulter.
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
Ukraine fears weighed on sentiment, with Russia rejecting a peace proposal amidst civil war-like situation in the former Soviet union republic.
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 US Federal Aviation Administration has yet to certify Epic's planes. The company manufactures private business jets with single and twin engines, capable of carrying six to seven people.
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.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
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.
India golfer SSP Chawrasia forged a two-shot lead at the Hong Kong Open on Friday, overcoming buffeting winds to card a four-under-par 66 in the second round at Fanling.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
The Reserve Bank of India's (RBI) denial of permission to Swiss bank UBS to acquire Standard Chartered Asset Management Company has come as a blessing in disguise for Standard Chartered Bank.
India's United Breweries has suggested close distribution ties with Heineken following the takeover offer by the Dutch brewer and Carlsberg for Scottish & Newcastle, which owns a stake in UB.
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.
After unseasonal rains, supply disruptions and pandemic-induced woes pushed retail inflation well over the Reserve Bank's comfort zone in 2020, the scenario is likely to stay that way at least in the short term as economic recovery slowly gains foothold. For most part of this year, pricier food items pushed the retail inflation, based on Consumer Price Index (CPI), higher in the range of 6.58-7.61 per cent, except for March when the reading was 5.91 per cent. Experts believe retail inflation is likely to average around 6.3 per cent this fiscal and mostly will remain sticky going forward owing to pick-up in demand across sectors.
W&M's single malts and vodka brand could help UB improve its position at the premium end of the Indian spirits market
The annual meet also saw some shareholders of the country's second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions.
San Fransisco and New York are touted to be the first destinations.
Mallya intends to protect his shareholding in India's largest brewer in which Dutch brewer Heineken holds 37.5% stake.
Mallya holds a 32.86 per cent stake in United Breweries, after having ceded control to Dutch brewer Heineken in December last year.
Readers share their Christmas pics. You can share yours too!
Atul Choksey, the former co-promoter of Asian Paints, has exited from Standard Chartered Mutual Fund.
UB Holdings had appealed to the bench, of judges Dilip B Bhosale and B Manohar, to let it use Rs 13 crore (Rs 130 million) from a Rs 380-crore (Rs 3.8 billion) deposit to pay a month's salary to employees of the grounded airline and Rs 47 crore (Rs 470 million) to settle tax dues on capital gains made from the sale of a stake in United Spirits to London-based Diageo that got it Rs 1,460 crore (Rs 14.6 billion).
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.
The United States is home to 515 billionaires with a combined net worth of more than $2 trillion and many favour New York over other American cities to live in, says a report.
The transaction, which values Air Deccan at Rs 155 a share, would be through allotment of non-preferential shares to UB
.jpg)
Justice Ram Mohan Reddy asked Mallya to appear in court and bring along his passport.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
While some argue there is more upside left, others suggest valuations might have run up far ahead of fundamentals.
Things appear to be going from bad to worse for Vijay Mallya, once known as 'King of Good Times', with the board of a company he nurtured into India's largest liquor maker asking him to quit.
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
United Spirits wants to align its resources to meet its goals of becoming a trusted and respected consumer goods company.
Even as Tata Steel mulls over its next move in the race for Corus Group, its rival suitor Companhia Siderurgica Nacional
Jeev Milkha Singh notched another accolade today when he was nominated for the Asian Tour's inaugural UBS Special Achievement Award.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances