Kingfisher Airlines has launched its operations with twice daily service on the Mumbai-Bangalore sector. The airline will increase its service to thrice a day from May 20. Flights on the Delhi Bangalore sector are scheduled to commence from June 6.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
Mallya said, the ED on the one side and the banks on the other are fighting over the same assets.
An official request has been made to the CBI to get a notice issued through its Interpol wing
Liquor baron Vijay Mallya on Thursday said the acquisition of Air Sahara by Jet Airways was expected and it would not affect his Kingfisher airlines as it was doing "well".\n\n
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
Beleaguered businessman Vijay Mallya on Thursday told the Supreme Court that banks have no right over the information of his overseas movable and immovable assets as he was an NRI since 1988.
The apex court's 2017 order had come on a plea by consortium of banks led by SBI, which had said that Mallya had allegedly transferred $40 million received from British firm Diageo, to his children in 'flagrant violation' of various judicial orders.
The special court on Monday rejected Kingfisher's plea challenging ED's claim that Rs 430 crore (Rs 4.3 billion) was siphoned off and used to acquire properties abroad.
A State Bank of India (SBI)-led consortium that gave loans to fugitive businessman Vijay Mallya on Friday received Rs 5,824.5 crore in its accounts after shares of UBL, earlier attached under the anti-money laundering law, were sold recently, the ED said. Mallya is accused in a multiple banks loan default case of about Rs 9,000 crore. The disputes resolution tribunal (DRT) had sold these shares on June 23 after the Enforcement Directorate had transferred shares worth about Rs 6,624 crore of UBL to the SBI-led consortium on the directions of a special PMLA court that is hearing the case involving Mallya in Mumbai. These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency.
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 has reduced its fares on the Mumbai-Bangalore route to Rs 2,999.
Vijay Mallya has lost control of his companies.
Liquor baron Vijay Mallya's Kingfisher Airlines, which plans to launch its operations from May 9, plans to float a public issue in the next 18 months to two years, a top company official said on Friday.
Private airlines owe a total of Rs 710.14 crore to the AAI.
The UB group's Kingfisher Airlines, which is planning to launch operations in May, announced the signing of deals to purchase three Airbus A-319 aircraft.
UB Group Chairman Vijay Mallya is no longer a member of India's 100 Richest club, even as fortunes of the country's uber-rich have seen a significant growth since last year.
So that salaries can be paid and grounded planes reinstated.
The debt-laden Kingfisher Airlines stopped operations in October 2012.
Sebi's order comes close on the heels of Central Bureau of Investigation naming Mallya, Kingfisher Airlines and nine others, in the charge sheet related to the 2015 loan default case.
The order brings an end to the nearly three-year legal battle in the Tribunal by the consortium, comprising 17 banks, to recover the money owed to them by the defunct airlines.
Vijay Mallya is accused of money laundering and violating the FEMA.
With this, India joins 60 other countries that collect PNR details of international passengers.
The results are required to be disclosed by listed companies on stock exchange platform for benefit of investors.
Vijay Mallya left India on March 2, presumably for London.
Kingfisher Airlines said it would "vigorously challenge" the bank's decision.
The employees in Delhi on Monday spearheaded an indefinite hunger strike and called on colleagues nationwide to join in the protests with their families at Jantar Mantar.
The UK Home Secretary will have to sign Mallya's extradition order within two months. However, Mallya's defence team has a chance to appeal in higher courts in the UK against the verdict.
The 63-year-old former Kingfisher Airlines boss, an avid cricket fan, is wanted in India on fraud and money laundering charges amounting to an alleged Rs 9,000 crores.
Besides non-payment of salaries, Vijay Mallya-owned private carrier, is saddled with huge debt and losses
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
Poddar-Mallya agreement on running MCF likely to be re-worked.
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
The Supreme Court on Monday awarded a four-month sentence to fugitive businessman Vijay Mallya, accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case.
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
A series of failed loan recast programmes continues to haunt banks.
The 62-year-old former Kingfisher Airline boss' defence team, led by Clare Montgomery, opened the day by branding the government of India's evidence presented in the case as "utterly unfounded".
