Businessman Vijay Mallya's property worth Rs 14 crore located in France has been seized under the anti-money laundering law, the Enforcement Directorate said on Friday. It said the action was undertaken by French authorities "on the request of the Enforcement Directorate" and the property bears the address: 32 Avenue FOCH in France.
Banks tighten hold on Mallya for defaults on KFA loans
Diageo gets assurance, Heineken may seek one, too.
Kingfisher Airlines, promoted by Vijay Mallya whose other group entities included United Breweries, owe close to Rs 7,000 crore to 17 banks.
Mallya has denied that he had fled India and said he would comply with laws.
A phased roll-out of prohibition will hit revenues of companies, which get 5% of their volume sales from the state
'I have been most pained at being painted as an absconder'.
Kingfisher Airlines Chairman Vijay Mallya has blamed almost everyone, including engine suppliers, employees, banks and tax authorities, for grounding of the carrier since October last year.
The Villa, owned by United Breweries Holding, was mortgaged by KFA to SBI-led 17-bank consortium to obtain loans in 2010
Mallya donated the gold after offering worship and requested temple authorities to use it for gilding the doors at the sanctum sanctorum, Tirumala Tirupati Devasthanams deputy executive officer (temple) Chinnamgari Ramana told PTI.
Bombay high court on Tuesday refused to restrain banks from selling shares of United Spirits pledged as security against loans to Kingfisher.
Promoter stake rises seven per cent in revised filing.
Essential to the larger-than-life image of United Breweries Chairman Vijay Mallya cultivated were the appendages -- the yachts, private aircraft and houses all over the world.
Must satisfy shareholders on game plan to steer UB Group over next 12 months.
Licence suspension would be revoked only after stakeholders are convinced of the airline's revival plan, say sources.
United Breweries says sales could fall by 40% following court ban.
Sebi has now proposed that the Companies Act should also clearly mention that a person should vacate the office of a director if it orders his or her disqualification.
United Breweries Group chief Vijay Mallya's son, Sidhartha Mallya is set to step into the world of brand endorsement with celebrity management firm KWAN signing him up to become face of some luxury brands.
Kingfisher Airlines owed Indian banks Rs 7,000 crore as of January.
United Breweries Ltd Chairman Vijay Mallya received over Rs 1.4 crore as commission and sitting fees during 2011-12 from the company.
Deal will help the Diageo to ramp up its presence in the global whiskey market and Vijay Mallya to repay debts of its group company Kingfisher Airlines.
UBHL chairman sold 8.41% stake, but didn't disclose.
The man who ran Mohan Meakin for over four decades was a teetotaller.
He sold 8.84% stake for Rs 55 crore based on average stock price in September quarter.
A familiar face in the glamour circles, Sidhartha Mallya is being groomed to eventually step into his father's shoes.
Shot across the incredible idyllic islands in the Indian Ocean with azure waters and clean beaches, Soneva Fushi and Soneva Gili provided the perfect backdrop for ace fashion photographer Atul Kasbekar for the Kingfisher Swimsuit Calendar 2010.
Though the UB Group chairman didn't name anybody, some of these associates could be the owners of Balaji Distilleries, whose breweries and distilleries were acquired by UB Group companies -- United Spirits and United Breweries -- during the last financial year.
In fresh trouble for liquor baron Vijay Mallya, United Bank of India has identified United Breweries Holdings, the guarantor of grounded airline Kingfisher, as wilful defaulter.
More than half of Mallya's total package for 2015 has been paid by Mendocino Brewing Company for 'promoting' the company's beer brands
It took the Danish beer maker eight years to move among the top three.
The company's exposure relating to Kingfisher Airlines is under various accounts including corporate guarantees to banks.
All companies stock price surged on the news that UB Group has reached a deal with the world's largest spirit maker Diageo for a stake sale.
In the last one year, the Sensex has fallen 2.17 per cent, while the BSE midcap index has risen 2.08 per cent. And, there is scope for value picking that can yield good returns.
United Spirits Limited clocked sales volume of 100 million cases for the fiscal ended March 31, 2010, becoming the world's second largest spirit company by volumes, UB group chairman Dr Vijay Mallya,announced on Wednesday.
Mallya left the country on March 2 and has had his passport revoked.
Vijay Mallya is accused of money laundering and violating the FEMA.
Last month, India's AlcoBev industry pulled off a successful two-day showcase exhibition at the Hotel Renaissance in Powai. We got experts to show readers how they can create some mind-boggling cocktail concoctions, so watch and learn.
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".
The UK Home Secretary will have to sign Mallya's extradition order within two months. However, Mallya's defence team has a chance to appeal in higher courts in the UK against the verdict.
Here's the full text of the statement
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