Force India set their sights on breaking into Formula One's top three at the launch of their new car on Wednesday and hit back at suggestions that they lack the budget to match the manufacturers in a spending 'arms race'.
The Centre on Monday told the Supreme Court that "secret" extradition process was going on to bring fugitive businessman Vijay Mallya to the country but it was not aware about its status. The Centre also told the top court that it was not a party to the proceedings.
Fifteen candidates in the recently concluded elections to the Rajya Sabha have pending criminal cases against them, of which six of them have serious charges, a report by the Association of Democaratic Reforms and National Election Watch has stated.
Lenders to Kingfisher Airlines (KFA) will meet its promoter, Vijay Mallya, and the rest of the brass on Monday, to chart a way forward for the grounded airline.
The reasons for non-payment remain unknown. GHIAL spokesperson, Arun Bhagat, refused to comment.
Janata Dal-United president Sharad Yadav has demanded that a case under 302 of Indian Penal Code (punishment for murder) should be filed against Vijay Mallya in connection with the suicide case of the wife of a Kingfisher Airlines employee.
Liquor baron Vijay Mallya, who acquired 26 per cent stake in the country's largest budget carrier, Air Deccan, for Rs 550 crore (Rs 5.5 billion) on May 31, is still in high spirits.
The 2011 Indian Premier League Players' Auction got a thumbs-up from all the ten franchises, with Royal Challengers Bangalore owner Vijay Mallya said "it was a level playing field" for all the participants.
At a 'Khaat Sabha' in Sant Kabirnagar district on Wednesday, Rahul referred to the incident of locals taking away the cots brought for the meeting, saying, "Our opponents see farmers as poor persons but I always feel that farmers are the real power of Hindustan."
Liquor baron Vijay Mallya's Kingfisher Airlines will commence operations during the first quarter of 2005.
The official liquidator said it would be in public interest that these properties are restored to him so that the interest of all creditors, including the applicant banks, can be "safeguarded".
In fresh trouble for liquor baron Vijay Mallya, United Bank of India has identified United Breweries Holdings, the guarantor of grounded airline Kingfisher, as wilful defaulter.
All companies stock price surged on the news that UB Group has reached a deal with the world's largest spirit maker Diageo for a stake sale.
United Breweries Ltd on Friday posted a net profit of Rs 34.2 crore (342 million) for the second quarter ended September 30, as against Rs 19.5 crore (195 million) in the year-ago period.
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
The carrier had planned a GDR issue in December last year to reduce its debt but had failed to do so as its stock prices began slumping.
India's hopes of hosting a Formula One Grand Prix in 2011 are on track despite exchange control obstacles, according to Force India team owner Vijay Mallya.
CBI Jt. Director, A K Sharma, weakened Mallya's "Look Out" notice, says Rahul.
Interview with Joint President & CFO, United Spirits Limited.
Force India owner Vijay Mallya has reminded feuding factions inside his Formula One team that, even if he sees no need to bang heads together, he pays the bills and calls the shots.
I don't disown my past association with Vijay Mallya but that does not mean I endorse his monetary misdemeanours, a feisty Divya Spandana tells Subhash K Jha.
Troubled Indian businessman Vijay Mallya is set to make a rare public appearance in the United Kingdom on Friday when he is scheduled to attend the team bosses press conference ahead of the Formula 1 British Grand Prix.
Kingfisher Airlines owed Indian banks Rs 7,000 crore as of January.
Kingfisher Airlines, promoted by Vijay Mallya whose other group entities included United Breweries, owe close to Rs 7,000 crore to 17 banks.
He still owes hundreds of crores to OMCs.
Confirming the sale, senior executives of public-sector banks said there was no court directive yet to stop selling shares.
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Diageo, which recently coughed up a total of Rs 18,000 crore (Rs 180 billion) to take majority control of USL, seems to have a lot of faith in him.
Mallya has an automatic right to appeal in the UK High Court against the Chief Magistrate's order but is yet to confirm if he plans to do that.
The CBI recently approached the special court in Mumbai for issuance of LoR to conduct a probe to ascertain utilisation of funds received in the US-based bank accounts of Mallya and now defunct Kingfisher Airlines.
Harsh Jain, founder of Dream11, a portal offering world's first fantasy cricket game dwells on his entrepreneurial experience.
Force India chairman Vijay Mallya says his team's maiden podium finish in the Belgian Grand Prix ranks alongside Royal Challengers Bangalore's final appearance in the Indian Premier League II as two of his best sporting moments.
Mallya, who is mired in a huge controversy for leaving India on March 2 in the middle of a massive loan default probe, was quoted as having said in an email interview to the Sunday Guardian published on March 13 that time was not 'right' to return to the country.
The case will now be listed in the coming weeks for a hearing before a judge, where Mallya's legal team and the Crown Prosecution Service will go to reiterate factors for and against the businessman's extradition to Arthur Road Jail in Mumbai.
Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India (SBI), had approached a special Prevention of Money Laundering Act (PMLA) court seeking restoration of his properties seized by the Enforcement Directorate. The special PMLA court in Mumbai on Tuesday allowed the restoration of properties worth Rs 5,646.54 crore to banks.
A consortium of Indian public sector banks led by SBI sought a bankruptcy order against embattled liquor tycoon Vijay Mallya during a high court hearing in London on Wednesday as part of efforts to recoup around 1.145 billion pounds in unpaid loans. Mallya's legal team, led by barrister Philip Marshall, argued for the bankruptcy petition to be dismissed because their client was being unfairly pursued by the banks in India and the UK on opposing grounds.
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
Vitantonio Liuzzi has been among the points right from the start of the season and Force India chairman Vijay Mallya now wants the other driver, Adrian Sutil, to follow suit.
Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
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