In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
Kingfisher House is one of the prime real estates of the airline.
The company has charted out a three step process in achieving the target
Air India must tighten costs to comes out of the red or it wil perish in no time, says experts.
Naresh Goyal only gave an undertaking not to sell any of his 51% stake in return for raising working capital debt from PNB.
United Bank of India has asked Vijay Mallya and three other directors of grounded Kingfisher Airlines to appear before a panel of the bank at the head office in Kolkata on July 9.
The proposal to allow foreign airlines to buy upto 49 per cent stake in domestic carriers originally mooted by the Commerce and Industry Ministry, has received a green signal from the Finance Ministry and the Civil Aviation Ministry.
With its nominees on the board, Tata Sons will have the controlling stake of 51%.
The Dhaka to Kathmandu US-Bangla Airlines flight, with 67 passengers and four crew members on board, caught fire after it careened off the runway and ploughed into a football ground near the Tribhuvan International Airport on Monday.
Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions of pounds to cover his living expenses and legal fees from funds held with the Court Funds Office as part of bankruptcy proceedings, initiated by a consortium of Indian banks led by the State Bank of India. Deputy Insolvency and Companies Court Judge Robert Schaffer declined to allow a draw down from the court-held funds of an estimated amount of around 1.5 million pounds, accrued from the sale of Mallya's French luxury property Le Grand Jardin earlier this year, until further arguments in the case. However, he did allow the release of 240,000 pounds plus VAT to cover the legal costs of a substantive hearing in the bankruptcy proceedings scheduled for next Friday.
Will Indian democracy benefit from the potential that Shashi Tharoor stores in his mind, spirit and intellect? Or will it be the saga of another leader who promised much but delivered too little, asks Dr Sudhir Bisht.
Vijay Mallya has been burdened for the past three years with debt at United Spirits spiralling and Kingfisher Airlines, well, on a downward spiral.
'Afghanistan is a beautiful country but has no luck as far as lasting peace is concerned'
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
As world leaders discuss measures in Copenhagen to save the planet from global warming, Nordic airline Finnair has mooted setting up of a global body under the United Nations to regulate emission trading.
Air India is aiming to improve its financials by pruning loss-making flights, improving fleet use, increasing web sales and selling & leasing back 14 Boeing 787s by March-end, top airline executives said on Monday.
Pro-Russia rebels on Friday said they have recovered the black boxes from the wreckage of the Malaysian plane blown by a missile over eastern Ukraine, killing all 298 people on board, including 100 world-renowned AIDS researchers and activists.
SBI had moved the Debt Recovery Tribunal because Mallya owes over Rs 7,200 crore to a consortium of banks led by State Bank of India
Proceeds may be used to partly pay off its Rs 46,570-cr debt
In a disclosure to the markets, United Spirits has said it is awaiting information from UB Holdings for determining the treatment in the company's accounts of the loan together with applicable interest accrued until March 31, 2014.
A forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.
At a hearing before Master David Cook at the Queen's Bench Division of the court, Mallya's legal team sought a dismissal of the interim order.
Enormous debt isn't the only thing afflicting Air India. Its work culture is an equal culprit in its downfall.
A senior Air India pilot, who was found to be allegedly drunk by Sharjah International Airport security just prior to flying, has been let off with a warning by the United Arab Emirates authorities.
Plans to rake in Rs 900 crore from marketing engineering, cargo & training services.
Ending a seven-year-long wait, the Star Alliance Chief Executive Board, at its meeting in London on Monday, gave an endorsement vote to induct Air India into the fold.
Days after its recent downgrade by the US aviation regulator, DGCA has set up two dedicated technical teams for surprise inspections on the aircraft of foreign airlines and charter firms and carry out extensive safety checks.
Samsung last week suspended sales of its latest flagship smartphone and announced a recall of 2.5 million units already sold, after faulty batteries caused some handsets to explode during charging.
The gunman, identified as 29-year-old Gavin Eugene Long, dressed in black and armed with a rifle, shot the police officers in an "ambush-style" attack on Sunday.
Hogan questioned the claims of the airlines campaigning against Etihad.
Jet Airways on Thursday said it would introduce more flights on both its domestic and international networks.
There is enough room for growth in smaller Indian towns as per US and European aircraft manufacturers
Two weeks' time given to CBI for filing a fresh status report.
Mallya left the country on March 2 and has had his passport revoked.
Buyer actor-producer Sachiin Joshi, who owns Viiking Media, has reportedly bought the villa, spread over 12,350 sq ft or three acre at Candolim.
A Las Vegas bound flight of a United States airliner made an emergency landing in Texas when the plane's pilot gave a mid-air scare to passengers about a possible attack by Al Qaeda and had to be restrained.
The bank had issued the notice alleging the carrier has wilfully defaulted in payment of outstanding dues of more than Rs 770 crore (Rs 7.7 billion).
Govt has no plan to divest stake in Air India.
Thousands of emergency rescue teams officials remained on their toes, helping people affected by the deluge. Weather official said parts of state are expected to receive rainfall again.
But its sales pitch will remain muted till India opens up more seats on the route
