Ravi Nedungadi

"Based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee, the Board of Directors at its meeting held on April 20, 2016 have approved the appointment of Ajay Kumar Vijay as Chief Financial Officer (CFO) of the company with effect from April 20, 2016," UBHL said in a BSE filing.

Vijay Mallya probe expands to 17 banks, 4 countries

Expanding its probe, the CBI is looking into about six lakh banking transactions, over 60 per cent of them made to foreign countries, related to over Rs 7,000 crore banks loan default case involving liquor baron Vijay Mallya.

Mallya seeks more time to appear before ED in PMLA case

Officials said the beleaguered businessman has informed the Enforcement Directorate's investigating officer that he would not be able to keep tomorrow's date and sought time till April.

KFA case: CBI quizzes top KFA, UB Group officials for 2nd day

A Raghunathan, Chief Financial Officer of the erstwhile Kingfisher Airlines, and Ravi Nedungadi, former CFO of the UB Group, were summoned to the CBI's Mumbai office again and questioned about alleged diversion of funds, official sources said.

KFA House to be e-auctioned on Mar 17 at Rs 150 cr reserve price

The Kingfisher House in Mumbai that was seized by the consortium of lenders, headed by State Bank of India last year, will be auctioned on March 17. It will through an e-auction.

CBI questions CFOs of KFA, UB Group

CBI today questioned the then Chief Financial Officers of defunct Kingfisher Airlines and UB Group, A Raghunathan and Ravi Nedungadi, respectively, in connection with alleged loan default case against the airline.

Collateral Damage: UB Group cos to lose out on fresh loans

It is not just lend fresh, even renewal of cash credit limits will not be entertained if any of the board members of any company are board members of a company that has been declared a wilful defaulter and in this case specific directors have been named as wilful defaulters.

Worries rise for UB Group as fake invites circulated

UB Group finds itself in a controversy, not of its making. A bogus press invite sent under the guise of UB Group's PR team, inviting people for a press conference, to announce a "transformational partnership" got the media excited but was followed up by confusion after UB Group denied ever having sent the invite.

No overseas high for Kingfisher Airlines!

With Kingfisher Airlines weighed down by debt burden of Rs 6,400 crore, the old king of good times, Vijay Mallya, is said to be looking at raising money from internal sources to keep his airline afloat.

Kingfisher to get USD 47 mn loan from Sahara: Report

The Sahara group will give a loan of more than Rs 250 crore to cash-strapped Kingfisher Airlines, to help the carrier continue operations, the media reported on Saturday, citing sources.

Kingfisher to get $47m loan from Sahara: Report

The Sahara group will give a loan of more than Rs 2.5 billion to cash-strapped Kingfisher Airlines, to help the carrier continue operations, the Times of India reported on Saturday, citing sources.

Kingfisher to shut sales offices, aims to save Rs 150 cr

Cash-strapped Kingfisher Airlines (KFA) is gradually shuttering sales offices across cities, following a 30% cut in its domestic flights. The move is expected to save the airline around Rs 150 crore.

Mallya & Co hold discussions with SBI officials

In continuation of efforts to raise funds for beleaguered Kingfisher Airlines, its promoter Vijay Mallya and top officials today held discussions with the State Bank of India officials.

Kingfisher rights issue in FY12, FY13: Ravi Nedungadi

Kingfisher Airlines will launch a rights issue of up to Rs 20 billion (USD 398 million) either before March 2012 or in the beginning of the fiscal year that ends in March 2013, Ravi Nedungadi, chief financial officer of UB Group, the airline's parent, said on Tuesday.

Kingfisher denies debt re-structuring, says all is well!

Ravi Nedungadi, president and chief financial officer of the UB Group has said that a section of the media has reported that lenders have rejected Kingfisher Airlines (KFA’a)debt recast plans. "This is factually incorrect," he said in a press statement.

Sahara buys 42.5% stake in Mallaya's Force India for $100m

Ravi Nedungadi, president & chief financial officer, UB Group said the company plans to use the USD 200 million with lessors to pay back some of Kingfisher Airlines debt.

United Spirits recasts remaining debt of Whyte & Mackay

There has been refinancing of a fairly large tranche of loans by United Sprits, the flagship spirits arm of Vijay Mallya-led UB Group. The company has announced that it had refinanced £370 million (USD 600 million or Rs 2,675 crore) of the remaining debt taken in 2007 to acquire Scottish spirit maker Whyte & Mackay.

Kingfisher not looking at debt conversions anymore: CFO

Kingfisher Airlines is not looking at more debt conversions from banks, though it has still optional convertible debt worth Rs 700 crore, Ravi Nedungadi, group president and CFO, Kingfisher Airlines told CNBC TV18. Its total debt currently stands at Rs 6,200 crore.

UB Spirits targets 12-14% volume growth going ahead

Ravi Nedungadi, CFO and president- finance of UB Holdings says that the company is targeting 12% to 14% volume growth going forward. He says, “The company’s revenue growth has been consistent with expectations.” He also adds that excluding the impact of Balaji Distilleries, “the sales are up by 20%.

Kingfisher allots 5.7% stake to SBI

Vijay Mallya-led Kingfisher Airlines today said it has allotted 5.68% shares, valued at around Rs 180 crore, to State Bank of India on a preferential basis under the debt recast plan.

Need to invest despite rising interest cost: UB Group

In an interview to CNBC-TV18, Ravi Nedungadi, President and CFO of the company said that strong volume growth aided sales this quarter. The company is optimistic that they will be able to maintain double-digit growth.