Vijay Mallya

A report said that India's largest airline by domestic market share is planning to fund its ambitious expansion plan as it has placed orders for 530 Airbus A 320s worth USD 48 billion.

SpiceJet got a bitter taste of the banking community's distaste for airlines when it ran into rough weather last year.

Indian business tycoon Vijay Mallya has been floundering in rough weather for more than 3 years, but 2014 saw his fortunes hit a new low. From being declared a willful defaulter, to losing control of his flagship company, Mallya was in the news in 2014 for all the wrong reasons reports CNBC-TV18's Poornima Murali and Archana Shukla.

These RPTs signed in June 2013 few weeks before it entered into agreement with Diageo for stake sale were enforced by the company without seeking shareholder nod till now.

In an interview to CNBC-TV18, Rakesh Biyani, Jjoing managing director, Future Group and Nilesh Gupta, managing partner, Vijay Sales share their outlook on this festive season and what it may mean in terms of sales.

RBI has issued clarification on 'wilful defaulter' tag wherein it allowed banks to include key executives in the management as defaulters too. The central bank also wants banks to name non-group entities as ‘wilful defaulters‘ if they have given guarantees and don‘t pay up when the original party defaults.

KFA Gets Wilful Defaulter Tag! What Next?

UBI recently declared the grounded airline and Mallya as wilful defaulters for non-payment of dues worth Rs 400 crore.

The bank has seen atleast four CDR cases- Bharti Shipyard, Hotel Leela, Electrotherm, SBQ Steel- failing in the first five years of FY15.

The annual general meeting of both these companies is slated Thursday

United Bank has declared Kingfisher Airlines and its promoter Vijay Mallya as ‘wilful defaulter‘. The bank is in the process of sending formal notices to the company and will inform RBI as well.

The Kolkata-based bank is the first PSU lender to initiate the process of declaring Vijay Mallya and three other directors of the grounded Kingfisher Airlines as wilful defaulters a couple of months ago

Zuari Fertilizers, which is keen to sell its 16.4 percent stake in UB group firm Mangalore Chemicals and Fertilizers, has been waiting to hear from Vijay Mallya. Sources say rival Deepak Fertilizer, which also holds a significant stake in MCF, may bid for Zuari's stake.

Rajat Sethi, Partner, S&R Associates says in terms of overall impact of the deal, it may be negligible given the definitive agreements based on what was disclosed in the market initially when the deal was announced.

SP Tulsian of sptulsian.com is bullish on United Breweries. “One may keep the long position for December-January series or remain as an investor,” he adds.

Saroj Poddar, who holds over 16 percent in MCF, said that he was interested in both, the JV and buying out Mallya's MCF shares.

According to reports, Zuari will look to sell its 16.5 percent stake to the Mallya-owned Mangalore Chemicals & fertilizers by the end of December unless a higher bid comes along.

After SBI Cap Trust, a subsidiary of State Bank of India issued a public notice on behalf of all KFA lenders that it has taken possession of Kingfisher Villa in lieu of unpaid dues.

Union Minister of Aviation Ajit Singh says, the biggest positives for the aviation sector is marked by two landmark pacts - Tata-Singapore Airlines and Jet-Etihad deals.

Kingfisher Management had addressed the employees before the AGM, and in their address they had hinted to them that while KFA is in talks with a foreign investor it may not be an already existing airline or a pe but could be a single investor.