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.
It is understood that Vijay Mallya left the country for UK on March 2 using a diplomatic passport issued to him by virtue of him being a sitting Rajya Sabha Member of Parliament.
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 remains on bail pending his UK High Court appeal, now scheduled for February 2020.
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.
Kingfisher Airlines CEO Vijay Mallya says given the sheer size of the country's booming economy, India should be on the Formula One calendar.
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.
Mallya left the country on March 2 and has had his passport revoked.
Mr Mallya's United Spirits, the third-largest spirits group in the world, acquires both a global footprint and a quality label.
Vijay Mallya has been contending he is the rightful owner of Officer's Choice whisky and not Kishore Chhabria
Kingfisher Airlines chief Vijay Mallya on Saturday said the company would make a bid to buyout the entire stake in Air Sahara.
He was also the chief financial officer of Kingfisher Airlines.
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.
Indian banks on Thursday rejected the loan repayment offer made by Vijay Mallya.
Vijay Mallya has applied to Home Secretary Priti Patel for "another route" to be able to stay in the UK, the liquor tycoon's barrister representing him in bankruptcy proceedings in the High Court of London confirmed during a remote hearing on Friday. The 65-year-old businessman, whose legal challenge to the Indian government's extradition request was turned down at the Supreme Court level in the UK last year, remains in Britain on bail until Patel signs off on the order for him to be extradited to India to face charges of fraud and money laundering related to the now-defunct Kingfisher Airlines. The UK Home Office has so far only confirmed on background that a confidential legal process remains ongoing before the extradition order can be executed.
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.
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 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.
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.
Mallya had bought the pedigree scotch major, based in Scotland, for $1.2 billion in 2007.
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.
He sold 8.84% stake for Rs 55 crore based on average stock price in September quarter.
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.
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.
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.
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.
First case filed after new norms come into force, NCLT admits plea.
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.
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.
Acquires 50 per cent stake for $36 million in United National Breweries.
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