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.
Five photos of western style toilets were presented to convince the court that acceptable standards would be extended to Mallya.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
Enforcement Directorate to approach court to attach industrialist's properties worth Rs 4,000 crore
Vijay Mallya, the embattled chairman of the UB Group, is not likely to be immediately named a wilful defaulter by the United Bank of India.
The banks have asked the court to demand his return and to impound his passport.
In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
Ritu Mallya, step mother of Vijay Mallya, has joined the board of Mangalore Chemicals and Fertilisers.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
British magistrate presiding over Mallya extradition case says India's prison standards are not up to the mark
Women of the family rush to become directors of firms to meet Sebi deadline.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
By registering the fresh case, ED wants to strengthen its probe against the beleagured liquor baron and expedite a slew of actions it has initiated against him
Diageo, under a share purchase agreement (SPA) with UBHL and various other sellers, had acquired 21,767,749 shares (14.98 per cent) in USL
Brokerages expect better financials as management is determined to improve profitability.
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 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
A forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
A bench of Justice Vibhu Bakhru, which later decided to hear the matter on Thursday again, also said that the ailing airlines can be allowed to be represented by a lawyer in the proceedings to be conducted by the PSU bank against it.
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.
Most analysts, who have long stopped covering UB stocks because of continuing troubles, were surprised to see a sudden spike of up to 20 per cent in their share prices on Tuesday.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
Mallya will now be the Founder Emeritus of USL
He manages to get back a majority of pledged shares.
The high court remained unconvinced by Mallya's claim that he has been a non-resident Indian since 1988 and has lived in England since 1992, a country where he has indefinite leave to remain
After razing his ancestral bungalow, housed in an expansive 4.5-acres of prime location in the central business district of Bangalore, Mallya's attempt to unlock value in the land by building the luxury KingfisherTowers has been stalled.
Indian banks on Thursday rejected the loan repayment offer made by Vijay Mallya.
Softening rural consumption and the likelihood of weak corporate earnings in the March quarter saw investors dump stocks.
RBI rule, applicable prospectively, also for non-group guarantors.
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).
For his 60th birthday in December, which he called his third 20th birthday, Mallya flew in Enrique Iglesias to perform at his villa overlooking the beach in Goa.
'Civil matters like loan recovery are being connected with criminal allegations, without any basis.'
If the offer is accepted, banks will have to take a haircut of about 30 per cent or Rs 2,500 crore of the total receivables of over Rs 9,000 crore.
The money was paid to Mallya in two tranches in his offshore accounts.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
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