LOC against Mallya was not changed by an officer individually: CBI

New Delhi, Sep 15 (IANS) The CBI on Saturday defended its Joint Director A.K. Sharma saying the ‘look out circular notice’ against fugitive businessman Vijay Mallya was not changed “individually” but the decision was taken at the “appropriate level”. The Central Bureau of Investigation (CBI) also clarified that the change in the LOC against Mallya was […]

UK court lets Indian banks search, seize tycoon Mallya’s properties – media

UK court lets Indian banks search, seize tycoon Mallya’s properties – media

Vijay Mallya arrives at Westminster Magistrates Court in London, Britain, March 16, 2018. (REUTERS/Toby Melville/File Photo)   NEW DELHI, July 5 (Reuters): A consortium of Indian banks can search and seize the properties of Indian businessman Vijay Mallya in Britain, media reports said on Thursday, citing the decision of a British court.   India wants […]

Mallya paves way for F1 team to be a force without India

Mallya paves way for F1 team to be a force without India

LONDON, June 28 (Reuters): Vijay Mallya, who is being pursued by Indian authorities over unpaid loans tied to his defunct Kingfisher Airlines, has taken steps that could see India disappear from the name of his Formula One team.   A hack of Mallya’s Twitter account last December revealed the same address, a terrace of mansions […]

Rs 8,040 cr loan given to Mallya in 2004, declared NPA in 2009

New Delhi, March 17 (IANS) Loans totalling over Rs 8,000 crore were given to absconding industrialist Vijay Mallya during the tenure of the previous UPA government at the Centre, Parliament was informed on Friday.   In response to a supplementary on the matter, Minister of State for Finance Santosh Gangwar, without naming Mallya, told the […]

Ready for talks with banks to settle dues, tweets Mallya

Ready for talks with banks to settle dues, tweets Mallya

New Delhi, March 10 (IANS) Embattled liquor baron Vijay Mallya on Friday offered to negotiate with banks for a one-time settlement of dues and sought the Supreme Court’s intervention.   “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 […]

BJP accuses Manmohan, Chidambaram of favouring Mallya; both reject charges

New Delhi, January 30 (IANS) The BJP on Monday alleged former Prime Minister Manmohan Singh and then Finance Minister P. Chidambaram favoured industrialist Vijay Mallya in getting huge loans for bailing out the now defunct Kingfisher Airlines. Both the Congress leaders rejected the allegations and asserted that the letters from the liquor baron were a […]

Tribunal asks banks to recover loans from Mallya’s properties

Tribunal asks banks to recover loans from Mallya’s properties

Bengaluru, January 19 (IANS) The Debt Recovery Tribunal (DRT) here on Thursday ordered attachment and recovery of tycoon Vijay Mallya’s properties for defaulting on bank loans by his defunct Kingfisher Airlines Ltd.   Allowing a joint petition filed in June 2013 by a consortium of 17 banks led by the State Bank of India (SBI), […]

United Spirits says it has found fund diversions by Mallya entities

United Spirits says it has found fund diversions by Mallya entities

MUMBAI (Reuters) – Indian spirits maker United Spirits Ltd (USL) said an additional inquiry into its past financial statements has uncovered actual and potential fund diversions linked to its former chairman Vijay Mallya.   The internal inquiry revealed actual and potential diversions of about 9.1 billion rupees ($135.5 million) and other potentially improper transactions amounting […]

Charges ‘preposterous’, I’m in ‘forced exile’: Mallya

Charges ‘preposterous’, I’m in ‘forced exile’: Mallya

London, April 29 (IANS) Industrialist Vijay Mallya, at the centre of a controversy in India over alleged loan default of Rs.9,000 crore, has termed the charges against him as “preposterous” and said he was in “forced exile” here from which he would like to return to his country.   “I’m absolutely not guilty of any […]

Mallya offers to pay up Rs.4,000 crore, SC told

Mallya offers to pay up Rs.4,000 crore, SC told

New Delhi, March 30 (IANS) The Supreme Court was told on Wednesday that beleaguered liquor baron Vijay Mallya has on Wednesday morning offered to pay Rs.4,000 crore for settling outstanding dues against the grounded Kingfisher Airlines on account of loans extended to it by a consortium of 13 banks headed by the State Bank of […]