Poddar-Mallya agreement on running MCF likely to be re-worked.
The Supreme Court is likely to pronounce on Monday the quantum of sentence against fugitive businessman Vijay Mallya, an accused in the bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case where he has been found guilty. A bench comprising Chief Justice Uday Umesh Lalit and Justice S Ravindra Bhat on March 10 had reserved its order on the punishment in the contempt case against Mallya, saying the proceedings against him have hit a "dead wall". The top court had heard senior advocate and amicus curiae Jaideep Gupta on various aspects related to the contempt law and the punishment, and had granted one last opportunity to lawyer Ankur Saigal, counsel for Mallya, to file his written submissions on the sentencing aspect.
Bangalore Royal Challengers' owner Vijay Mallya on Wednesday scotched speculation over the fate of the team's bowling coach Venkatesh Prasad, saying he was fully supportive of the former Indian medium pacer.
Vijay Mallya has not informed Rajya Sabha secretariat about his whereabouts or that he would be leaving country.
Delhi high court turned down on Monday the plea of liquor baron and Rajya Sabha member Vijay Mallya for quashing of criminal proceedings in a trial court for alleged 'wilful' disobedience of summons issued by the ED seven years ago.
Kingfisher Airlines has defaulted on loans of over Rs 9,400 crore obtained from various banks.
A Hyderabd court issued a non-bailable warrant against Kingfisher as well as Mallya on Friday in a cheque bounce case, said a Times Now report.
Kishore Chhabria and Vijay Mallya have called truce. What drove Mallya to the negotiating table? What does it mean for Chhabria?
A consortium of banks led by SBI had alleged that Mallya concealed the facts and diverted the money to his son Siddharth Mallya and daughters Leanna Mallya and Tanya Mallya in flagrant violation of the orders passed by the Karnataka HC.
Sources said Mallya has also been asked to furnish documents related to his personal finances
Sahara Force India do not depend now just on wet weather conditions to upset the big teams as the car is competitive enough in all conditions, team principal Vijay Mallya asserted on Monday.
Beleaguered businessman Vijay Mallya on Thursday told the Supreme Court that banks have no right over the information of his overseas movable and immovable assets as he was an NRI since 1988.
The letter came on a day when at least 16 Kingfisher flights, 10 from Mumbai and six from Delhi, were cancelled due to the strike.
Liquor baron Vijay Mallya on Wednesday met Oil Secretary S Sundareshan to discuss defaults by his group firm Kingfisher Airlines on payment of jet fuel bills, but did not say when he will clear the outstanding of Rs 176 crore (Rs 1.76 bilion).
Kingfisher Airlines may cut jobs, UB group chairman and CEO Vijay Mallya said on Thursday.
Mallya is at present based in London and extradition proceedings are on to bring him to India as the ED and the CBI are probing parallel criminal cases against him for an alleged bank loan default of Rs 9,000 crore.
'Everyone knows that you including your son won't be able to spend all the wealth that you have earned then why not at least pay the salaries of your employees,' the letter said.
Mallya holds a 32.86 per cent stake in United Breweries, after having ceded control to Dutch brewer Heineken in December last year.
Pune firm buys 24.46% stake from open market to become largest shareholder.
The Indian businessman, who has a 42.5 percent stake, said there was a possibility of main sponsor BWT getting more involved and changing the team's name.
Former prime minister H D Deve Gowda on Saturday tried to downplay the controversy surrounding liquor baron Vijay Mallya in connection with the money laundering case.
'I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter,' Mallya said on Twitter.
'When Mr Bhujbal was with the ED officers throughout the day and cooperating with them, what was the need to arrest him?'
Here's the full text of the statement
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.
AAI has filed two cheque bouncing cases against Mallya's Kingfisher Airlines in the court.
The Supreme Court (SC) on Monday slapped a fine of Rs 2000 ($25) and a four-month jail sentence on fugitive businessman Vijay Mallya. In addition, the former liquor baron has been asked to deposit $40 million with 8 per cent interest within a month, failing which his properties would be attached to recover the amount. The court held Mallya guilty of contempt after it was brought to its notice that he had transferred $40 million to his children in the US.
Congress chief Sonia Gandhi's son-in-law said that he was a political victim but never misused his position or ran away with anyone's money.
Troubled business tycoon Vijay Mallya, on Sunday, asserted that his stepping down as chairman of the United Spirits Ltd will not affect his control in Formula One team, Sahara Force India.
Kingfisher Airlines Ltd, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Chairman Vijay Mallya said on Tuesday, without naming any investor.
After strong statements to the contrary, UB Group chairman Vijay Mallya on Tuesday said that he was considering the merger of Kingfisher Airlines with budget carrier Simplifly Deccan (earlier Air Deccan), in which the former bought a 26 per cent stake in June. Mallya said Kingfisher had asked consulting firm Accenture to study the integration of the two airlines, including the possibility of a merger.
In 2012, Diageo signed a deal to buy stake in USL.
Beleaguered Lalit Modi on Monday found support from Royal Challengers Bangalore (RCB) owner Vijay Mallya, who credited the IPL commissioner for the cash-awash Twenty20 league's mind-boggling success. Throwing his weight behind Modi, Mallya said IPL owes its success to Modi and also wondered at the hue and cry raised over trans-border transaction by some of the IPL franchisees.
Force India F1 team rule out name change this year
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.
The administration was triggered by Force India's Mexican driver Sergio Perez, supported by engine provider Mercedes and team sponsor BWT who were also owed money by a team struggling financially.
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