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About 26 results for "vijay mallyarsquo"

UB board to keep faith in Mallya, for now

UB board to keep faith in Mallya, for now

The United Breweries board would continue to maintain confidence in UB Chairman Vijay Mallya unless he was convicted or asked to step down to conform with regulatory requirements, said Kiran Mazumdar-Shaw, an old friend of Mallya and an independent board member at UB. “If they are willing to offer me safe passage, I am willing to come and answer all questions,” Mazumdar-Shaw, recalled him as saying. “I feel I’m being victimised, so, right now, I’m in no position to ..., 1 week 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.com2 months ago How Mallya squandered money on yachts, jets and islands  Rediff.com2 months 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.com1 month 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.com2 months 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.com2 months 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.com2 months 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.com2 months 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.com2 months ago

ED to do forensic audit of Mallya's accounts

Probe agency to set up special software to probe money trail in the case. The Enforcement Directorate (ED) will conduct a forensic audit of Vijay Mallya’s and related companies’ accounts, to collect money trail details in connection with the Rs 6,963 crore (Rs 69.63 billion) borrowed by him and his now-defunct Kingfisher Airlines. The ED is formally probing Mallya and Kingfisher Airlines under anti-money laundering laws in connection with a Rs 950 crore (Rs 9.5 billion) loan default ...
 Rediff.com1 week ago

Mallya deportation plea refusal may hit dues

  There have been more than 500 hearings and 180 adjournments so far. Lenders to defunct Kingfisher Airlines fear their legal battle for dues from the carrier and its promoter would face a hurdle, with the UK rejecting India’s plea to deport Vijay Mallya. Public sector bank executives said the recovery and legal processes to bring him back were separate. After lenders rejected Mallya’s repayment offer in the Supreme Court last month, he has not come back with a revised one, ...
 Rediff.com2 weeks ago
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