Vijay Mallya

Finance Ministry Arun Jaitley is in Washington to attend the Spring Meeting of the IMF - World Bank Group.

In its dossier, the ED has also made a case against KFA and Mallya regarding the sale of a land of 264 acres in Coorg, the proceeds of which have been laundered overseas

Lawyers, advocates and eminent guest spoke to CNBC-TV18 post Vijay Mallya’s arrest and bail in London.

The UK has conveyed to India that its request for extradition of industrialist Vijay Mallya, who has been declared a proclaimed offender, has been certified by the secretary of state.

"Public sector banks have policies for one-time settlements. Hundreds of borrowers have settled. Why should this be denied to us? Our substantial offer before the honourable Supreme Court was rejected by banks without consideration. (I) am ready to talk settlement on fair basis," Mallya said in a tweet.

The Supreme Court today will hear Vijay Mallya‘s loan default case. Earlier, a special CBI court had issued a non-bailable warrant against Mallya in the loan default case after the investigative agency moved an extradition plea against the liquor baron.

SEBI has passed an order asking Vijay Mallya to not be on the board till the order is stayed, said Shekhar Ramamurthy, MD of United Breweries.

A CBI special court on Tuesday adjourned the case pertaining to the bail pleas of the nine officials arrested in connection with the alleged wilful default of the Kingfisher Airlines and IDBI Bank loan on Monday. The court also extended the judicial custody of the officials till February 20, when it will hear the matter.

In yet another blow to Vijay Mallya, the Karnataka High Court ordered winding up of United Breweries Holdings, the parent company of the UB Group. The court said UBHL‘s assets can be sold to recover dues payable by UBHL-promoted Kingfisher Airlines.

Speaking to CNBC-TV18, Union Power Minister Piyush Goyal, said he is in favour of creating a bad bank, which Finance Minister Arun Jaitley earlier said was a possibility.

In a twist to the Vijay Mallya saga, Network18 has accessed letters that embattled tycoon Vijay Mallya wrote to the then Prime Minister's Office (PMO) and his employees that indicate that Manmohan Singh and Finance Minister gave undue favours to Mallya.

The latest investigation is into the UB-Whyte & Mackay (W&M) deal, sources say. The market regulator is looking at loans transferred by the UB Group to W&M in foreign currency.

SEBI has also put a restraint on Mallya from holding positions of Director in any listed companies. The former President and Managing Director of United Spirits, Ashok Capoor, will also face similar constraints.

In a setback to Vijay Mallya, the Debt Recovery Tribunal (DRT) Thursday allowed SBI-led consortium to petition against the liquor baron. The tribunal has ordered payment of Rs 6,203 crore.

Exclusive sources tell CNBC-TV18 that the auction for KFA House in Mumbai has turned a cropper for the third time as no bids were received for former tycoon Vijay Mallya‘s asset.

In yet another jolt to beleaguered liquor baron Vijay Mallya, the Karnataka High Court today ordered winding up of his now-defunct Kingfisher Airlines Limited for non-payment of dues to a UK-based firm.

It said coercive process has to be initiated against liquor baron Mallya as he was facing proceedings in several cases and evading appearence in those matters.

Goa's plush Kingfisher Villa, where Vijay Mallya has hosted several glitzy parties in the past, failed to attract a single bidder at an e-auction today -- marking yet another failed attempt by lenders to recover dues from the embattled businessman.

The liquor baron left the country in March and is currently said to be living in Britain.