Mallya is understood to be in the UK after he left India on March 2.
In a conversation with Business Standard after an eventful annual general meeting of Kingfisher, he clears the air on many aspects.
Pai said he was also against 'naming and shaming' willful defaulters of bank loans.
This is the first time an airline has made such a request to the ministry after the Tata-Singapore Airlines deal fell through in 2001 (Singapore Airlines was to have a 49 per cent share in the joint venture). The Indian government does not allow direct or indirect investments in domestic airlines, a move that was meant to protect domestic carriers. Mallya's request marks a sharp change from domestic players' stand.
A huge monkey off Force India's back, team chairman Vijay Mallya said the Formula One outfit has actually delivered on its promise of a podium finish one year before the 2010 deadline it had set.
Troubled Force India co-owner Vijay Mallya dismissed speculation of a possible sale of his team to Australian David Brabham or Formula One's former commercial supremo Bernie Ecclestone.
Force India will take action against their German driver Adrian Sutil only if he is formally charged with assault, the Formula One team's owner Vijay Mallya said on Thursday.
The CCI in an order dated February 26 approved Diageo's proposed majority stake purchase in Mallya-led United Spirits, saying the deal would not have adverse impact on competition.
There is more worry for Vijay Mallya, battling many a fire. Even as his Kingfisher Airlines struggles to hold itself, another of his major companies, United Spirits, has had a setback in its legal battle against his arch rival, Kishore Chhabria.
UBHL chairman sold 8.41% stake, but didn't disclose.
Both Goyal and Mallya had figured in Forbes' annual list of world's billionaires published earlier last month, where Mukesh and Anil Ambani were named as two richest in India. According to Forbes, Goyal's fortune is valued at $ 1.4 billion, while that of Mallya is $ 1.2 billion. Naresh Goyal and Vijay Mallya are both vying for dominance of Indian skies. The are the only Indian names on the list. It also includes the feud between Russia's Vladimir Potanin and Mikhail Prokhorov
Two months before its maiden overseas flight was to take off, billionaire Vijay Mallya's Kingfisher Airlines has decided to rethink its whole strategy of flying abroad. "Due to the increase in crude oil prices and no signs of stability in the market, we are re-evaluating all our plans for international operations, keeping in mind costs and route network," Kingfisher Airlines executive vice-president Hitesh Patel said in reply to a questionnaire.
It had issued warrants directing the police to produce Mallya before it.
He manages to get back a majority of pledged shares.
Protesting against the government efforts to reduce high prices charged by airlines on tickets booked at short-term notice, Kingfisher Airlines promoter Vijay Mallya on Monday said that airfares should not be capped by the regulatory authorities, whether it is in upper or lower band.
Confiscation of the tycoon's properties will start from February 5.
"I am an international businessman. I travel to and from India frequently.
Firms he controls earn 4.5 per cent of UB Group's revenue.
The message was given to the airline's CEO, Sanjay Aggarwal, at a meeting here on Wednesay.
According to the ED, Mallya was summoned on four occasions for questioning in connection with the contract signed in December 1995 with London-based firm Benetton Formula Ltd for promotion of the Kingfisher brand abroad.
Liquor-baron Vijay Mallya today virtually asked the Gujarat government to lift prohibition in force in the state.
Vijay Mallya remembers the raised eyebrows that greeted his decision to retain Vitantonio Liuzzi as the race driver for the 2010 season and the Force India chairman is now pleased as punch after the Italian lived up to expectations within the first two races this year.
Vijay Mallya, who is being pursued by Indian authorities over unpaid loans tied to his defunct Kingfisher Airlines, has taken steps that could see India disappear from the name of his Formula One team.
Royal Challengers Bangalore owner Vijay Mallya on Tuesday slammed the Board of Control for Cricket in India (BCCI), saying that the rules and regulations for the Indian Premier League were made without the consultation of the franchisees involved.
Liquor baron Vijay Mallya's passport has been suspended.
India on April 28 asked the UK authorities to deport Mallya.
Playing down Justice Mudgal committee's report on corruption in the IPL, Royal Challengers Bangalore owner Vijay Mallya said scandals were a part and parcel of the every sport and the brand value of the cash-rich event remained unaffected.
Sahara Force India team principal Vijay Mallya, on Thursday, refused to reveal whether he will retain Adrian Sutil for the next season but said he would convey his decision to the German driver whenever he wants.
Force India's co-owner Vijay Mallya has rubbished speculation that he is planning to sell his stake in the Formula One team to Sahara India.
Embattled liquor tycoon Vijay Mallya claimed on Sunday that Prime Minister Narendra Modi's statement in a recent interview confirming the recovery of Rs 14,000 crore worth of his assets has fully vindicated him in his assertion of being a "poster boy" for the Bharatiya Janata Party-led government.
As his personal wealth started booming, Mallya went on a buying spree.
The airline's pilots and engineers at Delhi, Bangalore and Chennai have rejected the three-month salary offer.
Vijay Mallya has ensured that his brands do not fall out of Indian Premier League (IPL) viewership, though his team Royal Challengers Bangalore bowed out of the tournament. After RC's series of defeats, the UB Group chairman decided to cash in on his smaller investments in rival teams such as Rajasthan Royals, Delhi Daredevils, Chennai Superkings and Mumbai Indians.
Chairman of United Breweries group Vijay Mallya on Monday said that his company was keen to enter into the alcohol retail sector.
Embattled Force India co-owner Vijay Mallya will not be attending Sunday's Spanish Grand Prix but he is hoping for a change of fortune on the track at least for his Formula One team in Barcelona.
The liquor baron said he would seek support of the current incumbent Priya Ranjan Dasmunshi.
A bench comprising Justices A K Goel and U U Lalit took note of the fresh status report, referred by Attorney General K K Venugopal that efforts to bring Mallya back were on.
Mallya and his UB Group companies, including Kingfisher Finvest, held a 32.12 per cent stake in the airlines as of September.
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