Jun 23, 2021 07:22 PM IST
Why didn't banks go ahead and sell the shares before? That's because there was a court stay that prohibited banks from selling the securities in Mallya's name. Also, there was ED attachment on these assets.
- Jun 18, 2021 05:51 PM IST
The share sale of fugitive businessman’s shares in United Breweries, United Spirits and McDowell Holding is due on June 23 through a bulk deal.
- Aug 28, 2020 08:02 PM IST
The company moved the Supreme Court against the Karnataka High Court's March 6 order that upheld its February 2017 order directing the winding up of UBHL for recovery of dues payable by Kingfisher Airlines Limited.
- Jun 09, 2020 10:26 PM IST
The point being made in the case, as per a report, is that the extradition to India could endanger his health.
- Jun 04, 2020 04:58 PM IST
No estimate was given of how long resolution of the legal issue will take
- Jun 03, 2020 09:50 PM IST
On May 14, he lost his final appeal against extradition to India in the United Kingdom's Supreme Court.
- Apr 21, 2020 09:01 AM IST
Mallya's holding in United Breweries is 11.04 percent which has a value Rs 2,696 crore and that of United Spirits (1.52 percent) at Rs 582 crore. In total, if banks manage to sell these share holdings on April 20, banks would get Rs 3,278 crore.
But selling these shares and recovering money isn’t that easy.
- Apr 20, 2020 06:06 PM IST
The businessman is wanted by the Indian government under charges of financial fraud to the tune of about Rs 9,000 crore in borrowings from several Indian banks by the now-defunct Kingfisher Airlines.
- Feb 20, 2020 02:59 PM IST
Bankers forgot the golden rules before the flamboyant liquor baron and lent to an airline that never made profits in its eight years of existence.
- Aug 03, 2019 03:47 PM IST
In a separate filing, Bank of Baroda said the RBI has imposed a fine of Rs 50 lakh on it for delay in reporting fraud in an account.
- Apr 29, 2019 04:45 PM IST
The 63-year-old former Kingfisher Airlines boss is currently appealing against his extradition order from the UK to India to face charges of fraud and money laundering amounting to an alleged Rs 9,000 crores.
- Apr 19, 2019 07:53 AM IST
Check out this video to find out 12 Indian carriers that didn’t get a lifeline from the government and perished due to rising debt.
- Apr 18, 2019 09:14 AM IST
Why Jet Airways falling off the radar is no surprise
- Dec 17, 2018 12:17 PM IST
Sakshi Batra does a 3 point analysis of the latest court verdict and what can be expected in India's bid to extradite Vijay Mallya.
- Nov 27, 2018 11:55 AM IST
As airlines scrape the bottom of the barrel to extract every rupee from passengers, flyers expect too much for too little
- Oct 10, 2018 02:06 PM IST
This property, overlooking the Regent Park, was used by Mallya as his family home.
- Sep 24, 2018 09:13 AM IST
When it comes to white-collar crime, the rewards for breaking rules far outweigh the risks of flouting laws and getting punished if spotted.
- Sep 14, 2018 01:08 PM IST
The agency is specifically investigating the role of the then Government of India Joint Secretary (banking), Amitabh Verma, as they found several references to in Mallay's emails.
- Jun 30, 2018 05:12 PM IST
A special PMLA court here today summoned beleaguered liquor baron Vijay Mallya to appear before it on August 27 on the Enforcement Directorate's plea seeking action against him under the fugitive economic offenders ordinance in the over Rs 9,000 crore bank fraud case.
- Jun 27, 2018 04:43 PM IST
A financial settlement with Mallya will give confidence to businessmen who have had serious financial fraud charges against them that they can buy their way out of a jail term.
- May 21, 2018 12:58 PM IST
The decision comes at a time when authorities are clamping down on shell companies - listed as well as unlisted - for being allegedly used as conduits for illicit fund flows.
- Jan 12, 2018 07:30 PM IST
Minister of State for Home Kiren Rijiju said the Indian government is confident about its evidence and satisfied with the cooperation from the UK side on extradition matters.
- Jan 11, 2018 06:55 PM IST
During the bilateral meeting with UK Minister for Security and Economic Crime, Ben Wallace, Union Minister of State for Home Kiren Rijiju was made aware of the undergoing case at the Westminster Magistrates' Court in London.
- Dec 28, 2017 01:35 PM IST
The government does not want anyone working in Air India to lose job, Raju said in the Lok Sabha, adding that the disinvestment process of the national carrier has been initiated.
- Dec 13, 2017 02:14 PM IST
Air Deccan is set to re-launch operations with its first flight under the government's Ude Desh Ka Aam Nagrik (UDAN) scheme on December 23.