McDowell & Co Ltd and Phipson Ltd, both part of Vijay Mallya's UB group, and associates have made a counter offer to shareholders of Herbertsons Ltd to acquire additional 45.2% stake at Rs 200 per share.
Mallya left the country on March 2 and has had his passport revoked.
Justifying the coming together of the two airlines, which account for about 60 per cent of the market share, Goyal said that the break-even point for the aviation sector is at 90 per cent capacity utilisation whereas, "We are now operating between 60-70 per cent." Goyal said, "On top of all this, international airlines are dumping capacity in India, lowering their prices knowing we cannot match the competition.... therefore, we have to work together."
Indian drinks and aviation tycoon Vijay Mallya plans to gather his Formula One, cricket and soccer interests into one company and float it on the Mumbai stock exchange early next year. As well as his Formula One team, Mallya owns the Royal Challengers Bangalore cricket team in the Indian Premier League (IPL) and has 50 percent stakes in Kolkata-based Mohun Bagan and East Bengal soccer clubs.
Sebastian Vettel's historic win in the Italian Grand Prix would boost independent teams and Vijay Mallya wants his Force India drivers to take a leaf out of the rookie German's book.
Kingfisher Airlines CEO Vijay Mallya says given the sheer size of the country's booming economy, India should be on the Formula One calendar.
Vijay Mallya has been contending he is the rightful owner of Officer's Choice whisky and not Kishore Chhabria
He was also the chief financial officer of Kingfisher Airlines.
Mr Mallya's United Spirits, the third-largest spirits group in the world, acquires both a global footprint and a quality label.
Indian banks on Thursday rejected the loan repayment offer made by Vijay Mallya.
Kingfisher Airlines chief Vijay Mallya on Saturday said the company would make a bid to buyout the entire stake in Air Sahara.
Even as 59 Rajya Sabha seats will be up for re-election in April, at least two industrialists are likely to get re-elected for another six years -- Vijay Mallya and Rajkumar Dhoot.
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.
Mallya offered to pay Rs 4,000 crore (Rs 40 billion) as settlement.
Force India Chairman Vijay Mallya is expecting both Adrian Sutil and Vitantonio Liuzzi to be among points in Sunday's British Grand Prix and reckons a podium finish is possible in Spa and Monza.
Sebi, in an affidavit, said its August 1 order asking Mallya and Chhabrias to make open offers to divest their stakes in excess of 21.38 per cent and 10 per cent shares respectively in Herbertsons Ltd, should be upheld by the Apex Court.
Mallya had bought the pedigree scotch major, based in Scotland, for $1.2 billion in 2007.
After declaring that it would do whatever it takes to cut flab, Kingfisher Airlines has now said it will not retrench cabin staff.
The business tycoon wants to bring an Indian driver back into Formula One once he takes over the struggling Spyker team.
France said on Wednesday it would be too happy to see Indian liquor baron Vijay Mallya become a major player in the French champagne industry, but for that to happen he needs to outsmart competition.
He sold 8.84% stake for Rs 55 crore based on average stock price in September quarter.
Royal Challenger Bangalore owner Vijay Mallya on Saturday threw his weight behind beleaguered Lalit Modi, and said the Indian Premier League commissioner should be given a chance to defend himself in the wake of the raging controversy.
The double finish in the season-opening Australian Grand Prix on Sunday ticked all the boxes barring aerodynamics and Force India is just a few refinements away from its maiden Formula One points, owner of the Silverstone-based outfit Vijay Mallya said. Mallya said reliability was his main concern coming into the 2009 session but the Australian Grand Prix dispelled all fears and aerodynamic development is all the VJM02 needed to break the duck.
The 61-year-old flamboyant businessman, already out on bail on an extradition warrant executed by the Metropolitan Police earlier this year, was released on the same bail conditions as before to appear for his trial on December 4.
Noting the urgency and desire on the part of India to extradite people accused of corruption, the UK on Friday said a "legal process" is on in Vijay Mallya's matter and it has to be followed through as there cannot be any shortcut. In May last year, the fugitive businessman lost his appeals in the British Supreme Court against his extradition to India to face money laundering and fraud charges. Asked when can Mallya be extradited to India and if some kind of legal issue is still pending in the matter, new British High Commissioner to India, Alex Ellis, without pointing to any particular case, said he recognises the urgency, importance and the desire to get back people who are accused of corruption to India.
According to the The Times, the move is a part of a drive to cut UB Group's $4 billion (2.5 billion pounds) debt.
First case filed after new norms come into force, NCLT admits plea.
Sahara Force India team principal Vijay Mallya was a satisfied man after his team achieved the target of registering points in the inaugural Indian Grand Prix with Adrian Sutil managing to bring home the car inside the top 10 bracket, in Greater Noida, on Sunday.
India's foreign direct investment policy allows foreign investors to pick up 49 per cent stake in domestic airlines, but foreign airlines are not permitted.
Low-cost carrier Kingfisher Red will shut down in four months with the airline group chief Vijay Mallya on Wednesday saying several measures have been initiated to face financial problems caused by high interest burden and burgeoning fuel costs.
The VJM02 will remain the same blindingly fast car, with or without Giancarlo Fisichella, and Adrian Sutil is good enough to score points in the remaining five races of the 2009 season, said Force India chairman Vijay Mallya.
Acquires 50 per cent stake for $36 million in United National Breweries.
The Yeti Airlines aircraft took off from Kathmandu's Tribhuvan International Airport at 10.33 am on Sunday and crashed on the bank of the Seti River between the old airport and the new airport in Pokhara, minutes before landing, according to the Civil Aviation Authority of Nepal.
Mallya, mired in a controversy for leaving India in the middle of a massive loan default probe, on Monday appeared to distance himself from an interview that quoted him as having said that time was not 'right' to return to the country.
Maintaining that civil aviation flew thousands of tonnes of equipment and passengers across the country on a daily basis, he said grant of infrastructure status would help the industry in its dealings with the RBI as well as the commercial banks, both in the private and public sectors. On Kingfisher's global plan, Mallya said the airline would launch services to Hong Kong and Singapore as soon as its aircraft were ready.
Force India co-owner Vijay Mallya has rejected speculation about his Formula One team's finances, saying they will be racing for years to come.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances