A debt recovery tribunal in India ruled that Rs 6,200 crore of Vijay Mallya's dues -- Rs 5,000 crore as principal and Rs 1,200 crore as interest -- was payable. Mallya claims that out of the sum due, Rs 3,000 crore had already been recovered by the claimants.
The Goa villa, Mumbai office could be put on the block.
Force India F1 team rule out name change this year
What's common between Vijay Mallya, Ratan Tata and L N Mittal besides the fact that they are all India-born entrepreneurs looking to dominate global business? All three are victims of economic patriotism in foreign soil.
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.
The UB Group, which has interests in spirits, aviation and pharmaceuticals, is contemplating entering the organised retail sector leveraging on its Kingfisher brand name.
The administration was triggered by Force India's Mexican driver Sergio Perez, supported by engine provider Mercedes and team sponsor BWT who were also owed money by a team struggling financially.
'When Mr Bhujbal was with the ED officers throughout the day and cooperating with them, what was the need to arrest him?'
Here's the full text of the statement
The low-profile chief of Deepak Fertilisers on Wednesday bought 24.46% shareholding in MCF.
Barely a day after Force India's historic podium finish at the Belgian Grand Prix, a war of words broke out between Sports Minister M S Gill and Vijay Mallya on the government's refusal to acknowledge Formula One as a sport.
Mallya still ranks well above Naresh Goyal of Jet Airways, who has been ranked at the 94th position with a fortune of $600 million.
The Supreme Court has rejected an appeal by Vijay Mallya to overturn charges against him for allegedly violating foreign exchange rules, adding to the legal challenges facing one of the country's most prominent businessmen.
UB Group chairman and Rajya Sabha member Vijay Mallya and Air Sahara chief executive officer U K Bose were on Monday honoured with the Distinguished Fellow Award, 2003.
Ernst and Young, advisers to Air Sahara, had valued Air Sahara at between $750 million and $1 billion.
The 14th Additional Chief Metropolitan Magistrate court issued the NBWs on March 10 against the now-defunct Kingfisher Airline
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.
Social media was in a frenzy after it emerged that Indian High Commissioner Navtej Sarna, who was one of the special guests at the event on Thursday evening to mark the launch of Suhel Seth's new book 'Mantras for Success: India's Greatest CEOs Tell You How to Win', was also present at the event when the business tycoon arrived.
Jaitleysaid Mallya misused his position as an MP to accost him once in Parliament.
Mallya donated the gold after offering worship and requested temple authorities to use it for gilding the doors at the sanctum sanctorum, Tirumala Tirupati Devasthanams deputy executive officer (temple) Chinnamgari Ramana told PTI.
Kingfisher to be lager partner at ICC Champions Trophy to be played in UK.
JSW Steel chairman Sajjan Jindal confirmed that his group is acquiring an IPL side.
The finance ministry official may have claimed that the ministry does not have information on the loans sanctioned by different banks to Mallya or the details of the guarantee given by Mallya against those loans, but the ministry had responded to questions in this regard in Parliament in the past.
Though FDI is allowed in the sector, foreign carriers cannot acquire stakes in Indian airlines.
Crisis-ridden Kingfisher Airlines would come up with a recovery road map in three days, chairman Vijay Mallya promised on Thursday.
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
On April 20, the court had convicted Mallya and others in connection with bouncing of two cheques of Rs 50 lakh each under relevant sections of Negotiable Instruments Act
In a thread of tweets, Mallya claimed, "The airlines struggled financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where banks money went. I have offered to repay 100 % of the principal amount to them. Please take it."
Kingfisher promoter Vijay Mallya is ready to infuse Rs 425 crore (Rs 4.25 billion) into the airline and restart its limited operations as soon as DGCA gives a go-ahead, the lead lender to the grounded carrier SBI said.
Within the next fortnight Adrian Sutil and Paul di Resta will know whether they continue to remain Force India drivers next season or not, as Team Principal Vijay Mallya said he is due to convey his decision to the duo before next month's Abu Dhabi Grand Prix.
The employees of the grounded Kingfisher Airlines, who have not been paid for eight months now, on Wednesday threatened to file a winding up petition in the court under the Company's Act, if the management did not share its revival plan with them.
"India's global image has taken a beating," Mallya said on the social networking platform Twitter.
The services of Kingfisher can be restored only after the DGCA is convinced that the carrier can provide safe and sustainable operations.
Kingfisher chief Vijay Mallya walked into the corporate head office of Jet at S M Centre in Andheri to discuss the issues of common interest with Naresh Goyal, as both the airlines are losing an estimated up to Rs 20 crore a day.
UB Group Chairman Vijay Mallya has turned down suggestions from banks that he should give a personal guarantee as a precondition for additional funding to the cash-strapped Kingfisher Airlines.
This is the first time an airline has made such a request to the ministry after the Tata-Singapore Airlines deal fell through in 2001 (Singapore Airlines was to have a 49 per cent share in the joint venture). The Indian government does not allow direct or indirect investments in domestic airlines, a move that was meant to protect domestic carriers. Mallya's request marks a sharp change from domestic players' stand.
A huge monkey off Force India's back, team chairman Vijay Mallya said the Formula One outfit has actually delivered on its promise of a podium finish one year before the 2010 deadline it had set.
Force India will take action against their German driver Adrian Sutil only if he is formally charged with assault, the Formula One team's owner Vijay Mallya said on Thursday.
