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About 23 results for "vijay mallyarsquo"

House panel recommends Mallya's expulsion from RS

House panel recommends Mallya's expulsion from RS

Independent member of Parliament and liquor baron Vijay Mallya is all set to face expulsion from Rajya Sabha, with a Parliamentary panel examining the matter related to his alleged loan default of over Rs 9,400 crore rupees, on Tuesday unanimously favouring such action. At the same time, the Ethics Committee of Rajya Sabha headed by veteran Congress leader Karan Singh, decided to give Mallya one week time to explain his conduct, which the members said is a ‘procedural formality’. In ..., 6 days ago

Who is the key man of Mallya empire abroad?

An Indian origin attorney based in Switzerland is turning out to be a key man of Vijay Mallya’s empire abroad. Sixty-four-year-old Jay Vallabh is named director and authorised signatory in many of the offshore vehicles related to the liquor baron. Regulatory filings with US Securities & Exchange Commission and public documents available on the company registries of locations such as Isle of Man and Panama showed that Vallabh’s name figured prominently in several of these ...
 Rediff.com1 month ago How Mallya squandered money on yachts, jets and islands  Rediff.com1 month ago

Service tax dept to auction Vijay Mallya's planes: CBEC

Total disputed liability of Mallya with respect to service tax to the tune of Rs 535 cr The service tax department might soon auction aircraft owned by liquor baron Vijay Mallya to recover around Rs 535 crore in dues, Central Board of Excise and Customs (CBEC) chairman Najib Shah said on Saturday. “Some properties of Vijay Mallya have been attached. His aircraft are with us. So those are what we are going to auction very shortly,” Shah said at a press conference on the launch of a ...
 Rediff.com4 weeks ago

Mallya files plaint against newspaper for 'fabricated' interview

The controversy over Vijay Mallya’s interview to a weekly newspaper got murkier on Tuesday with the beleaguered businessman saying he has filed a ‘complaint’ with the Cyber Police Station in Mumbai, alleging it was ‘fabricated’, a day after he denied having given it to that media outlet. Mallya, who is mired in a huge controversy for leaving India on March 2 in the middle of a massive loan default probe, was quoted as having said in an email interview to the Sunday ...
 Rediff.com1 month ago

Why SBI has, so far, failed to recover money from Vijay Mallya

'Just as the government is looking at ease of doing business, it needs to look at ease of resolution. When something goes bad, resolution the world over happens in six-nine months’ time. Here it goes on for years.' Arundhati Bhattacharya, bottom, left, chairperson of the State Bank of India, has a simple message for defaulters in a conversation with Shekhar Gupta on NDTV 24x7’s Walk the Talk programme. Excerpts: How bad is the bad debt problem? When we started with this ...
 Rediff.com1 month ago

Nothing can kill Mallya's appetite for fun

The last few years may have been turbulent for Vijay Mallya but that didn’t stop him from having fun, says Raghu Krishnan. Image: For his 60th birthday in December, Mallya flew in Enrique Iglesias to perform at his villa in Goa. Photograph: Vijay Mallya/Twitter     On March 1, among those milling around in Parliament was an independent member of the Rajya Sabha from Karnataka. He could be seen talking to fellow lawmakers, making short conversations with them. The next day, ...
 Rediff.com1 month ago

Kingfisher vs Jet: One chart tells a grim story about Vijay Mallya's loans

Bankers gave money to Mallya's airline though it was not enough to even service existing debt?   Bankers cannot escape blame for the bad-loan mess at Kingfisher Airlines. Why did they fund Vijay Mallya’s never financially solvent airline? Kingfisher’s gross block (investment in fixed assets) was always a fraction of its total debt and the gap widened with each passing year (see chart). Thus, the banks never had the option to sell its assets and recover their dues in a default.
 Rediff.com1 month ago

Return with passport: Supreme Court tells Vijay Mallya

Banks are seeking an order that Mallya should appear in person before the court. Image: A consortium of banks has moved the court seeking the freezing of Mallya’s passport. Photograph: Reuters     The Supreme Court on Wednesday asked Vijay Mallya to be present before it on March 30, with his passport, after learning that the beleaguered liquor baron had left the country.  Mallya, the chairman of the UB Group and a Rajya Sabha member, is facing legal proceedings for ...
 Rediff.com1 month ago

ED issues final summons to Mallya

Mallya, who was scheduled to appear on April 2, had asked for a month's time; if he fails to appear on April 9, agency will seek a non-bailable warrant The Enforcement Directorate on Saturday issued a third and final summons against UB Group chairman Vijay Mallya, asking him to appear on April 9 to depose in investigations under the Prevention of Money Laundering Act. “This is the last and final summons against him. If he fails to appear on the given deadline we will start the legal ...
 Rediff.com4 weeks ago

Why banks may not buy Mallya's settlement offer

The promoter of the defunct Kingfisher Airlines would have to show specific assets and money for repayment. Liquor baron Vijay Mallya on Wednesday told the Supreme Court that he would pay Rs 4,000 crore (Rs 40 billion) by September as settlement for a default on loans to banks. Lenders, however, are taking the offer with a pinch of salt. They claim the submission of a plan to repay six months later is hardly satisfactory. The promoter of the defunct Kingfisher Airlines would have to show ...
 Rediff.com1 month ago
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