Bengaluru-headquartered United Breweries is one of the largest beer manufacturers in India.
The 68-year-old former Kingfisher Airlines boss is wanted in India on charges of fraud and money laundering amounting to an alleged Rs 900 crore in unpaid bank loans, the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) had earlier stated.
The store is being launched in collaboration with The Fantam, a Bengaluru-based group of professional brand managers, and will exclusively offer Kingfisher merchandise.
Despite India being the third-largest and one of the fastest-growing aviation markets in the world, many airlines have failed in the country. These airlines either collapsed or were sold due to financial crunch, debt, and mismanagement. Go First is the latest victim of the unforgiving Indian aviation market. Let’s have a look at a few airlines that flew too close to the sun, metaphorically, and got burnt.
The company, which is controlled by Dutch brewing firm Heineken NV, intends to enhance its product line through innovation thus catering to a larger audience.
Mallya had disbursed an amount of $40 million to his family members in violation of court orders.
No oral submissions were made on behalf of Mallya. The counsel representing Mallya expressed his inability to get instructions from him.
Vijay Mallya’s personal presence is not possible due to the legal proceedings going on in the UK where the fugitive is residing currently.
The airlines business is a difficult one but the legendary investor may have good reasons to do it now, motivated by the success of another investor turned businessman
In fact, the recovery in the Kingfisher-Vijay Mallya case may be the best deal Indian banks may have got in a long time, with lenders recovering almost the entire principal amount by selling Mallya's shares.
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.
Advocate Rajat Nair, appearing for the Centre, told the court that the extradition request has been made as per the direction of the court.
The promoter, the management, the lenders, the strategic partner and the government were all flying blind
Macau becomes the known destination for money launderers because of its casinos and easy cash withdrawal rules.
According to Mallya’s lawyer John Brisby, the liquor baron is an insolvent.
Bankers who have been unable to put their own house in order are now preparing to run an airline, no prices for guessing the outcome
Along with UB, London Pilsner and Heineken beer also plan to launch a slew of zero-alcohol beer in Gujarat as well as elsewhere
A company needs the flexibility to operate and make decisions on its own based on ever-changing market scenarios. Till now, Air India was denied this freedom.
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.
The 62-year-old former Kingfisher Airlines boss, who has been on bail on an extradition warrant since his arrest in April last year, is fighting extradition to India on charges of fraud and money laundering amounting to around Rs 9,000 crores.
Though Kingfisher is still the largest beer brand in India, it has lost 4.3% market share by volume between 2011 and 2016, according to data from market researcher Euromonitor marking the steepest decline among the top beer brands in India during this time.
The 61-year-old liquor baron, wanted in India on charges of fraud and money laundering allegedly amounting to around Rs 9,000 crores, was in the dock at Westminster Magistrates' Court for his defence, headed by barrister Clare Montgomery.
The first auction of the property was led by State Bank of India and 17 other banks in March last year and was a failure. At the base price of Rs 150 crore, the property had no takers
United Breweries (UBL) has convinced him to step down from the company board and propose a successor
The company is filing 500 tax returns every year, just to keep the business compliant, claims the CEO. The Beer Cafe has raised over USD 10 million in foreign investment.