Force India will give Karun Chandhok an opportunity to prove his F1 mettle but team owner Vijay Mallya is bemused by the romanticism that the Chennai driver deserves a seat in the outfit just because he is an Indian.
A four-member team led by CBI additional director Rakesh Asthana will apprise British authorities about the finer points of the loan default cases against Mallya. Two senior ED officials are also part of the team.
Force India co-owner Vijay Mallya reminded drivers Sergio Perez and Esteban Ocon that the team must take priority after a collision at the Azerbaijan Grand Prix wrecked hopes of a first win in Formula One.
'Let the bankers take all steps to recover their money.'
Any race that has to be run in India has to be run under the banner of the recognised affiliate, says the FMCI chairman.
Force India Formula One team co-owner Vijay Mallya has warned the country not to expect too much from the team in 2008 despite a big budget increase. The Indian billionaire bought into the Spyker team and renamed it after last season and interest has been drummed up further through advertisements about "the force of a billion hearts."
In an SEC filing dating back to 1997, he figures as "J Vallabh".
Vijay Mallya's nameplate gleamed on the door of his office in the Force India hospitality at the Indian Grand Prix on Thursday while a team sponsor board outside carried the words 'Fly Kingfisher'.
Karun Chandhok can kiss his Force India ambitions good-bye, at least for the time being, after chairman of the resurgent outfit Vijay Mallya said he doesn't consider any Indian driver good enough for Formula One.
The next hearing on ED's application before the special court, seeking permission to start confiscation proceedings, is scheduled for April 8.
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
The government on Thursday said Kingfisher Airlines has not yet given a revival plan to restart operations, even as employees are aggrieved over non-payment of salaries.
Beleaguered liquor baron Vijay Mallya on Wednesday announced he will retire as chairman of Sanofi India and will not seek reelection as a director of the drug maker.
It said a "sudden rise" in terrorist-financing investigations was seen in 2023 and this was attributed to events arising out of incidents in Manipur that led to such probes in more than 50 cases.
Royal Challengers Bangalore owner Vijay Mallya on Sunday backed Mumbai Indians in its fight against the alleged rigging of the IPL 4 auction and called for more 'transparency' and 'inclusive approach' in the administration of the Indian Premier League.
Beleaguered Kingfisher Airlines on Wednesday announced further reduction in its flight schedule and said its promoter Vijay Mallya will meet the pilots agitating over delayed salary on Thursday.
Share purchase agreement awaits Karnataka HC decision on Kingfisher creditors' plea.
In all, 4.2 million shares were sold during the quarter.
Vijay Mallya's United Breweries has held a vice-like grip over the Indian beer market with the Kingfisher, Kalyani and Sandpiper brands. With 137 million cases (12 bottles each), it has a 45 per cent market share. But now multinationals are closing in on UB.
The agency did not seek a reappointment in FY12.
In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, "...Only wish the same was done for Kingfisher".
Under Section 83 of the CrPC, ED may seek attachment of more of his property.
The ED had filed an application before a special PMLA court seeking the 'fugitive' tag for Mallya under the Fugitive Economic Offenders' Act, 2018.
Union Home Secretary Rajiv Mehrishi raised the issue of early completion of the extradition process of Mallya, during his talks in New Delhi with his UK counterpart Patsy Wilkinson, the second permanent secretary in the British home office.
'It isn't as if I have any emotional ups and downs. I have done absolutely nothing wrong. In fact I am glad that it is finally before a UK court and an impartial court. So we wait and see how it plays out' 'If you look at my role in the team, there's nothing for me to miss. I am participating in all the decision-making and I've got a virtual pit wall at home. I miss being around but I'm also happy in my space. My time will come and I'll go back to the tracks'
Liquor and airline baron Vijay Mallya, auto major Hero Honda and leading telecom company Reliance Communications have started negotiations with the Board of Control for Cricket in India (BCCI) to buy the rights of teams that will play in the Twenty20 tourney, which was announced to counter Subhash Chandra's Indian Cricket League (ICL).
Kingfisher Airlines will have to pay Rs 60 lakh daily for operating flights.
Mallya has been able to do what most businessmen dream of: combine a personal passion with a high-value business opportunity.
Sources said India expects forward movement in Mallya's extradition from the United Kingdom following the talks.
Following the government move to allow FDI policy in the civil aviation sector, Chairman of debt-ridden Kingfisher Airlines Vijay Mallya on Wednesday said the carrier was in talks with foreign airlines.
Force India finished sixth in 2014 but spent much of last season calling for cost cuts.
A State Bank of India (SBI)-led consortium that gave loans to fugitive businessman Vijay Mallya on Friday received Rs 5,824.5 crore in its accounts after shares of UBL, earlier attached under the anti-money laundering law, were sold recently, the ED said. Mallya is accused in a multiple banks loan default case of about Rs 9,000 crore. The disputes resolution tribunal (DRT) had sold these shares on June 23 after the Enforcement Directorate had transferred shares worth about Rs 6,624 crore of UBL to the SBI-led consortium on the directions of a special PMLA court that is hearing the case involving Mallya in Mumbai. These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency.
Force India owner Vijay Mallya on Tuesday said he would consider promising motor race driver Karun Chandhok for his Formula One team if he can finish inside top three in the GP2 Series for a couple of years.
UB Group Chairman Vijay Mallya's grip on United Breweries slipped further on Thursday, after lenders to UB Group companies offloaded a part of the stake in Kingfisher beer that was pledged to them.
Mukesh Ambani has won the bid to sponsor the Mumbai team of the Indian Professional League (IPL) tournament promoted by the Board of Control for Cricket in India (BCCI).
Bollywood stars Shah Rukh Khan and Preity Zinta, industrialist Mukesh Ambani and liquor baron Vijay Mallya emerged successful bidders for Indian Premier League teams on Thursday.
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