Kingfisher Airlines, the wholly owned subsidiary of United Breweries, on Tuesday announced the operation of daily Airbus A320 flights on two new routes - Bangalore-Chennai and Bangalore-Hyderabad from Wednesday.
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines after the high court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman's assets in India. Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Mallya's lawyers. At a virtual hearing, July 26 was set as the date for final arguments for and against granting a bankruptcy order against the 65-year-old Mallya after the banks accused him of trying to "kick matters into the long grass" and called on the "bankruptcy petition to be brought to its inevitable end".
ED had earlier issued summons to Mallya for "personal appearance" on March 18 under the provisions of the Prevention of Money Laundering Act (PMLA).
Liquor baron Vijay Mallya, facing probe in a loan default case of IDBI bank, apparently managed to leave the country in spite of a look-out notice against him by CBI.
Chairman of United Breweries group Vijay Mallya on Monday said that his company was keen to enter into the alcohol retail sector.
With this, Heineken's stake has risen from 39% to 42.2%.
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
A debt recovery tribunal in India ruled that Rs 6,200 crore of Vijay Mallya's dues -- Rs 5,000 crore as principal and Rs 1,200 crore as interest -- was payable. Mallya claims that out of the sum due, Rs 3,000 crore had already been recovered by the claimants.
In a bid to capture greater market share of UK's Indian restaurants, United Breweries (Scottish & Newcastle) will embark on a one million pound mega media campaign later this month to promote its flagship beer brand 'Kingfisher'.
Liquor baron Vijay Mallya has bought most of the items related to former Mysore ruler Tipu Sultan which went under the hammer for over 1 million pounds with Sotheby's auctioneers in London.
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters.
Vijay Mallya-controlled UB Group's open offer for acquiring stake in liquor firm Shaw Wallace will begin on April 18, the manager to the offer said on Thursday.
SBI-led consortium expects to make over Rs 13,000 crore from sale of assets
Market regulator Securities and Exchange Board of India will soon appeal to the Supreme Court against the Securities Appellate Tribunal's order directing Chhabrias to make an open offer to shareholders of Herbertsons Ltd.
Kingfisher to be lager partner at ICC Champions Trophy to be played in UK.
Liquor baron Vijay Mallya's Kingfisher Airlines, which plans to launch its operations from May 9, plans to float a public issue in the next 18 months to two years, a top company official said on Friday.
United Breweries Ltd has bought out the minority stake of 35 per cent in Associated Breweries and Distilleries Ltd with the deal being finalised at a put option price of Rs 24 crore (Rs 240 million).
