Vijay Mallya

There are two offshore accounts— in Isle of Man and Panama—used in the acquisition of Shaw Wallace Distilleries which are part of Vijay Mallya's US expansion plans.

Pratip Chaudhuri, former CMD of State Bank of India, says banks are circumspect because once you call up a loan, there is no chance of it ever coming back to health, and obviously valuations of stalled businesses are very low

Congress members in Rajya Sabha on Monday again raised the Mallya issue, and demanded that the industrialist be brought back to India, along with former IPL chief Lalit Modi.

Aryama Sundaram and Sanjay Hegde explain if there a legal recourse available for banks and the Enforcement Directorate incase Vujay Mallya does not return to India anytime soon?

Under pressure following the recent controversy over Vijay Mallya's loan default, banks have decided to step up pressure on promoters of highly indebted companies and have come together to tame the NPA issue.

Attorney-General Mukul Rohatgi says that Mallya should voluntarily surrender his passport.

CNBC-TV18's Kritika Saxena, quoting sources, says that the properties were priced higher to get maximum loans by Mallya.

The move assumes significance in the wake of a raging controversy over UB Group Chairman Vijay Mallya, who has exited the country amid continuing efforts by the banks to recover dues totalling over Rs 9,000 crore of unpaid loans and interest.

There is still confusion over the future of ‘Kingfisher‘ trademark for the United Breweries beer category, reports CNBC-TV18‘s Varinder Bansal.

Speaking to CNBC-TV18, the counsel for the service tax department says, any dues, service tax or customs are basically sovereign dues or debts, in the nature of taxes which people have paid.

In a statement, State Bank of India says it strongly denies media reports, which are based on hearsay and conjecture, suggesting laxity on part of banks in seeking relief against Kingfisher Airlines Limited (KAL), its promoters and holding/associated company.

CNN-IBN traced him to his estate from London with the assistance of people in the neighbourhood villages who know of him for his thirty acre estate, and for his rather colourful lifestyle. They spoke of his lifestyle in the pub and of interesting visitors in recent days.

Attorney General Mukul Rohatgi told the court that Mallya left the country on March 2, 2016. He told the SC that Mallya's assets abroad are far in excess to loans taken by him.

CNBC-TV18‘s Kritika Saxena, quoting sources, says that six key directors of the Airline will be called in for questioning including the then Chief Finance Officer (CFO), A Raghunath.

In an interview with CNBC-TV18, State Bank of Mysore MD Sharad Sharma talked about takeaways from the recent Gyan Sangam summit, developments on the Vijay Mallya case and whether the bank is looking at getting merged with SBI.

"List it for hearing tomorrow," a bench comprising Chief Justice T S Thakur and Justice U U Lalit said, when Attorney General Mukul Rohatgi, appearing for PSU banks, mentioned the matter for urgent hearing.

In a major setback for liquor baron Vijay Mallya, the Debt Recovery Tribunal (DRT) today barred him from accessing USD 75 million (Rs 515 crore) exit payment from Diageo till the loan default case with State Bank of India is settled.

The Enforcement Directorate is all set to question former chairman of the erstwhile kingfisher airlines Vijay Mallya.

Sources tell CNBC-TV18 that SEBI will investigate ‘money trail‘ between Mallya and USL in order to retrieve details on capital transfer between them from 2012 till date.

According to SBI, a similar case is already pending before Bombay High Court.