Continuing with his acquisition juggernaut on foreign shores, liquor baron Vijay Mallya of United Breweries Group has now set his sights on New Zealand based company Independent Liquor Ltd.
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.
Mallya might continue to elude ED, CBI interrogation in the short term but could still be extradited to India
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.
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.
Vijay Mallya, promoter of debt-ridden Kingfisher Airlines, would have his stake falling a little below 50 per cent in the company, if a comprehensive debt restructuring is approved by the shareholders on December 20. On a fully diluted basis, it will drop by little over 16 per cent from the current 66 per cent.
No one appeared for Mallya and Kingfisher Airlines on Friday.
Liquor tycoon Vijay Mallya-promoted United Spirits on Wednesday said it had acquired Scottish whiskey maker Whyte & Mackay for 595 million pounds (nearly Rs 4,819 crore).
A case has been lodged against UB group chairman Vijay Mallya by farmers allegedly for forgery in the Patna district police on Thursday said.
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.
Indian Formula One fans should be proud of their own team rather than bemoaning the lack of homegrown talent on the starting grid, Force India's flamboyant owner Vijay Mallya said.
Banks tighten hold on Mallya for defaults on KFA loans
Vijay Mallya-led UB Group is all set to meet the month-end deadline for payment of Rs 400 crore (Rs 4 billion) balance toward 26 per cent stake it had picked in Deccan Aviation, the promoter of low-cost carrier Air Deccan.
Mallya's lawyer said he wants to return, but a British court has prohibited him from leaving the UK without its permission.
A court in Bulandshahr (Uttar Pradesh) has asked the Bangalore Police to ensure the presence of Kingfisher Airlines chief Vijay Mallya before it on October 31 on a pilot's petition alleging that the company was withholding his dues.
South African all-rounder Jacques Kallis stole the show in Round 4 of the DLF Indian Premier League players' auction with a winning bid of US $9,00,000 by billionaire Vijay Mallya's Bangalore franchise. Kallis, who was priced at US $2,25,000, beat West Indies' dashing opener Chris Gayle, who was bought by Kolkata franchise for US $8,00,000.
Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions of pounds to cover his living expenses and legal fees from funds held with the Court Funds Office as part of bankruptcy proceedings, initiated by a consortium of Indian banks led by the State Bank of India. Deputy Insolvency and Companies Court Judge Robert Schaffer declined to allow a draw down from the court-held funds of an estimated amount of around 1.5 million pounds, accrued from the sale of Mallya's French luxury property Le Grand Jardin earlier this year, until further arguments in the case. However, he did allow the release of 240,000 pounds plus VAT to cover the legal costs of a substantive hearing in the bankruptcy proceedings scheduled for next Friday.
Kingfisher Airlines chairman and managing director Vijay Mallya is keeping his fingers crossed as he awaits word from Air Sahara
Liquor baron Vijay Mallya is mulling to divest around 49 per cent stake in United Spirits Ltd's UK-based wholly-owned subsidiary Whyte & Mackay (W&M), which it acquired for 595 million pounds in May 2007.
Flamboyant Indian business tycoon Vijay Mallya is pitched against Mexican billionaire and one of the world's richest persons, Carlos Slim Helu, among others for buying the Formula One team of Japanese auto giant Honda, a report said.
In January, Sebi had barred Mallya and six former officials of USL from securities markets in a case related to illegal fund diversions.
Sebi to look into disclosure, other lapses in the Vijay Mallya, Diageo case.
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.
The court had, however, rejected ED's request for attachment of the liquor baron's overseas properties
Vijay Mallya's Kingfisher Airlines is likely to order 30 jets and 20 turbo-propelled aircraft.
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
With this extra buck in it kitty, will Air Deccan be able to expand its fleet and revamp its services?
Liquor baron Vijay Mallya, facing a case of loan default of over Rs 9,400 crore, is all set to be expelled from the Rajya Sabha as Chairman Hamid Ansari on Tuesday turned down his resignation on procedural grounds.
W&M's single malts and vodka brand could help UB improve its position at the premium end of the Indian spirits market
Mallya is a fugitive from justice in India, Attorney General Mukul Rohatgi told the Supreme Court.
The banks also wanted disclosure of assets of Mallya's other close relatives and former relatives, including his ex-wife, which was objected by his counsel.
Vijay Mallya-promoted United Spirits Ltd has told its investors that at its current growth rate of 12 per cent annually, it will become the world's number one spirits company this fiscal.
In 2010, ministry told its officers nominated on PSB boards to stay away from big-loan panels; central bank followed suit.
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