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.
Mallya might continue to elude ED, CBI interrogation in the short term but could still be extradited to India
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.
No one appeared for Mallya and Kingfisher Airlines on Friday.
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.
Mallya's lawyer said he wants to return, but a British court has prohibited him from leaving the UK without its permission.
A case has been lodged against UB group chairman Vijay Mallya by farmers allegedly for forgery in the Patna district police on Thursday said.
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).
Banks tighten hold on Mallya for defaults on KFA loans
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.
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.
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 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.
Kingfisher Airlines chairman and managing director Vijay Mallya is keeping his fingers crossed as he awaits word from Air Sahara
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.
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
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.
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.
In 2010, ministry told its officers nominated on PSB boards to stay away from big-loan panels; central bank followed suit.
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.
Mallya said he was being advised by lawyer Harish Salve.
India will produce a Formula One driver like Lewis Hamilton one day but it will take time, Force India team owner Vijay Mallya said on Friday. Asked in a team interview whether he was actively looking for an Indian driver or Indian personnel, the flamboyant billionaire said he simply wanted the best regardless of nationality.
They said creditors would be paid in full and all 405 jobs at the Silverstone-based team, that was co-owned by embattled Indian businessman Vijay Mallya and finished fourth last year, were safe.
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