The quantum of punishment is expected to be pronounced on May 5 by the court.
Banks who had lend to Kingfisher Air are finding it difficult to recover dues.
While Air India owes Rs 450 crore (Rs 4.5 billion), beleaguered Kingfisher Airlines has unpaid dues of Rs 75 crore (Rs 750 million) and both carriers have been put on the cash-and-carry mode of payment.
Cash-strapped Kingfisher Airlines owed over Rs 5,600 crore (Rs 56 billion) to public sector banks as on February this year.
In a written reply to the Rajya Sabha, Civil Aviation Minister Vayalar Ravi said Vijay Mallya-promoted Kingfisher Airlines along with Paramount Airways did not settle dues on a regular fortnightly basis.
Kingfisher Airlines will have to pay Rs 60 lakh daily for operating flights.
Sources said Mallya has also been asked to furnish documents related to his personal finances
Battling financial crisis, Kingfisher Airlines Chairman Vijay Mallya on Tuesday said he has not asked for a bailout from the government but wants the lenders to help with Rs 700-800 crore (Rs 7-8 billion) working capital as short-term need and interest concessions.
Amid the debate over bailout for private carrier Kingfisher Airlines, SpiceJet chief Neil Mills on Monday said the government should not use taxpayers' money to revive a private sector company.
Mahendra Singh Dhoni's side were crowned the World Cup winners after beating Sri Lanka by six wickets in the final at the Wankhede Stadium here on Saturday to become only the second Indian squad to win cricket's showpiece event after Kapil Dev's 1983 outfit.
According to sources, the airline has requested the consortium for a working capital support of Rs 200-300 crore (Rs 2-3 billion) and individual banks are expected to take a call on this in the next few days.
The matter relates to cheques issued by Kingfisher to GMR Hyderabad International Airport.
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.
The high court permitted Mallya to appeal on only one limited ground to be able to address the admissibility of some evidence and interpretations made by the lower court.
United Bank of India has asked Vijay Mallya and three other directors of grounded Kingfisher Airlines to appear before a panel of the bank at the head office in Kolkata on July 9.
The high court verdict in April upheld the 2018 ruling by Chief Magistrate Emma Arbuthnot at the end of a year-long extradition trial that the former Kingfisher Airlines boss had a "case to answer" in the Indian courts.
Debt-ridden Kingfisher Airlines today reported that its net loss doubled to Rs 468.66 crore (Rs 4.68 billion) in the quarter ended September 30, 2011, as higher fuel prices depressed operating margins.
Liquor baron Vijay Mallya's Kingfisher Airlines will commence operations during the first quarter of 2005.
In conformity with civil aviation regulator DGCA's guidelines on reducing flight delay, private carrier Kingfisher Airlines will close its check-in counters for domestic flights 40 minutes prior to departure.
The judge said the assets of the respondent company cannot be left under the control of UBHL and could be handed over to official liquidator to achieve the winding up process s per the law.
The consortium led by SBI has also initiated the process of recovery.
Vijay Mallya-owned private air-carrier, Kingfisher Airlines is in talks with a top former executive of the budget airline, SpiceJet to take him onboard and a final decision on the issue is expected shotly, sources said.
Kingfisher Airlines has increased the salary of a section of its pilots, fearing an exodus to rival carriers. Airlines including SpiceJet and IndiGo are in an expansion mode and will be adding 29 planes this financial year, opening new job avenues for pilots.
HPCL is Kingfisher Airline's largest aviation turbine fuel supplier.
FIIs' stake in Naresh Goyal-owned Jet Airways stood at 7.10 per cent during the three months through September, compared to 6.38 per cent during the first quarter of this financial year.
The Supreme Court is likely to pronounce on Monday the quantum of sentence against fugitive businessman Vijay Mallya, an accused in the 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 Chief Justice Uday Umesh Lalit and Justice S Ravindra Bhat on March 10 had reserved its order on the punishment in the contempt case against Mallya, saying the proceedings against him have hit a "dead wall". The top court had heard senior advocate and amicus curiae Jaideep Gupta on various aspects related to the contempt law and the punishment, and had granted one last opportunity to lawyer Ankur Saigal, counsel for Mallya, to file his written submissions on the sentencing aspect.
Grounded Kingfisher Airlines has written to UCO Bank wanting to know the basis of attaching the 'wilful defaulter' tag on the carrier.
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.
Banks are direct stakeholders and are dealing with commercial matters of the airline where the ministry would not like to intervene: Prabhu
The vertical separation between Air India flight IC-941 from Hyderabad to Delhi and Kingfisher Airlines' Delhi-to-Bhubaneshwar flight IT-3345 came down to 700 feet as against the required 1,000 feet when they were manoeuvring over Delhi airspace.
Passengers on-board a Kingfisher Airlines Mumbai-bound flight had tense moments on Monday after the pilot pressed a hijack alarm by mistake.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Kingfisher Airlines had moved the Supreme Court against a probe into its two-year-old strategic alliance with Jet Airways.
'Everyone knows that you including your son won't be able to spend all the wealth that you have earned then why not at least pay the salaries of your employees,' the letter said.
The ED has pressed charges under various sections of the Prevention of Money Laundering Act against Mallya and others named in the CBI complaint
Liquor baron Vijay Mallya on Wednesday met Oil Secretary S Sundareshan to discuss defaults by his group firm Kingfisher Airlines on payment of jet fuel bills, but did not say when he will clear the outstanding of Rs 176 crore (Rs 1.76 bilion).
The launch marks the first time that Kingfisher Airlines is adding destinations from South East Asia to its international route network.
A Kingfisher Airlines flight IT-3149 from Mumbai to Lucknow was grounded at Mumbai airport after a bomb scare. The airline got a call as the plane was taxiing on the runway. The plane was then taken to the isolation bay of Mumbai airport.
United Bank's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion)
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