The Instagram video has drawn significant attention due to the controversial backgrounds of both Lalit Modi and Vijay Mallya.
Fugitive businessman Vijay Mallya informed the Bombay High Court on Wednesday that he is unable to provide a definite timeline for his return to India, citing the revocation of his passport and also being legally barred from leaving the UK.
Lalit Modi posted a social media video from Vijay Mallya's 70th birthday party in London, referring to the pair as the 'two biggest fugitives' of India.
The HC posed the question to the 70-year-old liquor baron, wanted in India to face trial on fraud and money laundering charges, on his return home while hearing his twin pleas.
After the viral video, the Ministry of External Affairs said the government remains fully committed to ensuring that fugitives wanted in India return to the country and face trial before the courts.
Mallya is the first Indian ever to become the owner of a Formula One Team. The Netherlands-based Mol Family and Mallya have formed a consortium that is now the joint owner of Force India Formula One, which is also India's first-ever Formula One Team and represents India's first, truly global sports foray.
Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
'He proved it once again when he reportedly had beer -- and other kinds of liquor -- served on the A380, the big bird from Airbus Industrie on its first flight within India.'
The famous tag of "king of good times", used equally for Mallya and his Kingfisher beer, has been punned mercilessly in newspaper headlines to highlight the trouble in his airline.
RPG Enterprises Chairman Harsh Goenka thinks aloud about what Vijay Mallya could or should do to get out of the current mess.
Karnataka HC seeks probe into fund diversion by United Spirits.
Liquor baron Vijay Mallya's tenure in the Rajya Sabha came to an end on Wednesday with Chairman Hamid Ansari accepting his fresh resignation letter.
In a rare appearance since shifting base to the United Kingdom, troubled Indian businessman Vijay Mallya was seen having a good time in London as he watched the Indian Premier League final between Royal Challengers Bangalore and Sunrisers Hyderabad on Sunday. In a video gone viral, Mallya senior is seen having a gala time with his son Siddharth along with a few others. The video was posted by Siddharth as he watched the IPL final with his father. Siddharth also mentions about Force India's third place finish in the Monaco Grand Prix, which also took place on Sunday. "Here we are, watching together from London. It doesn't get better than Sergio Perez getting a podium (for Mallya co-owned Force India). Hopefully we can add to what has been an epic day of sports so far," says Mallya junior in the video as he catches the IPL action with his father on the big screen.
The industrialist has joined JD(S) leader S R Bommai to for a new party.
The apex court also put forth questions why loans were given to Mallya when he was a defaulter.
Vijay Mallya was made a Member of Parliament's standing committee on chemicals and fertilisers earlier this year.
Vijay Mallya owes several banks thousands of crores of rupees which he had taken as loans for his businesses including the now defunct Kingfisher Airlines.
"Vijay wanted to know if I was going to bid and I said I would," Chatwal said. "As I chatted with him it was clear to me that he too wanted to donate the items to the Navjivan Trust. I then decided I would not bid.
Mallya now has 14 days from February 4 to apply for leave to appeal to the UK high court.
After being forced to resign as chairman of MCF, Mallya is now keen on increasing his stake in the company
The Enforcement Directorate on Thursday said it has restituted funds worth more than Rs 300 crore towards long-pending dues of the former workers of now defunct Kingfisher Airlines that was promoted by fugitive liquor baron Vijay Mallya.
As an overnight producer of nearly 10 per cent of the world's Scotch whisky, Vijay Mallya has moved to a global liquor arena.
Wednesday's acquisition of Whyte & Mackay for $1.18 billion puts Mallya in the hallowed bracket.
Mallya recently acquired 26 percent stake in the country's largest budget airline, Air Deccan.
Vijay Mallya has been burdened for the past three years with debt at United Spirits spiralling and Kingfisher Airlines, well, on a downward spiral.
The board of directors will review the position of Vijay Mallya, under self-exile in Britain, at its next meeting on August 12.
There is no way out for Mallya's debt problems unless he sells some of his stake, says an analyst.
Days after Nationalist Congress Party leader Ajit Pawar joined the Maharashtra government, the Shiv Sena (UBT) on Wednesday claimed that only alleged economic offenders Mehul Choksi, Nirav Modi and Vijay Mallya were left to be inducted into the Bharatiya Janata Party.
Pharma tycoon Adar Poonawalla has emerged as a potential suitor for the Indian Premier League franchise Royal Challengers Bengaluru, sparking fresh speculation around a possible change in ownership of one of the league's most high-profile teams.
Flamboyant Indian tycoon Vijay Mallya was pipped to the post by Mexican billionaire Carlos Slim Helu in the race for acquiring the Honda Formula One team, according to media reports in Rome.
Fugitive businessman Vijay Mallya was booed by a section of India supporters as he entered the Oval arena to watch India's crucial ICC Champions Trophy encounter against South Africa, in London.
The Centre on Monday told the Supreme Court that it is taking all measures to extradite fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines from United Kingdom, but the process is being delayed due o some legal issues involved in the matter. A bench of Justices U U Lalit and Ashok Bhushan posted the matter for further hearing on March 15, after Solicitor General Tushar Mehta sought some time to file report on the status of extradition of Mallya. At the outset, Mehta shared a letter of the ministry of external affairs' official Devesh Uttam written to him on the status of extradition of Mallya from the United Kingdom.
Royal Challengers Bangalore captain Virat Kohli remembered 'controversial' former franchise director Vijay Mallya for picking him in the team and providing an opportunity to rub shoulders with the world's best players. "My association with RCB has been special as it has been exciting from the first season. I was chosen to play for RCB by Mr Mallya. I have learnt so much and getting to play with the world's best players. "I am welcomed here warmly, I love this franchise, the city, fans, deep connection," he told reporters on the eve of his team's face-off with Sunrisers Hyderabad at Chinnaswamy stadium in Bengaluru. Mallya, who has defaulted in loans in excess of Rs 9000 crore, is facing probe by various investigative agencies. The 60-year-old bought RCB in 2008 but the popular franchise has not been able to win a single Indian Premier League title in eight attempts.
Vijay Mallya had indicated last month that he wanted to move to the UK to be closer to his children.
The Supreme Court Thursday reserved verdict on quantum of sentence against fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case where he has been found guilty. A bench comprising Justices U U Lalit, S Ravindra Bhat and P S Narasimha reserved the judgement after hearing senior advocate and amicus curiae Jaideep Gupta on various aspects related to the contempt law. It even permitted the counsel, who was earlier representing Mallya, to file written submissions, if any, in the case by Tuesday.
Businessman Vijay Mallya's property worth Rs 14 crore located in France has been seized under the anti-money laundering law, the Enforcement Directorate said on Friday. It said the action was undertaken by French authorities "on the request of the Enforcement Directorate" and the property bears the address: 32 Avenue FOCH in France.
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