Indian banks argue for Vijay Mallya bankruptcy, UK court reserves judgment
A group of Indian public sector banks sought a bankruptcy order against embattled liquor tycoon Vijay Mallya during a High Court hearing in London. Judge Michael Briggs presided over the ongoing hearing in the insolvency division of the court on a bankruptcy petition filed by the banks last year, in relation to lending by Mallya's now-defunct Kingfisher Airlines.
UBL to snap ties with global distributor over ‘Mallya link’
Liquor co may start exporting directly through parent Heineken’s global distribut...
Indian banks back in UK court over Vijay Mallya's non-payment of debt
Besides SBI, the 13 Indian banks include Bank of Baroda, Corporation ba...
Nirav Modi's assets worth Rs 2,400cr may be sold
Modi is the second businessman after Vijay Mallya to be labelled as a fugitive economic offender under the Fugitive Economic Offenders Act.
Slowdown grounds business jets as the rich tighten purse strings
India Inc is looking to tighten its belt amid the economic slowdown as it gives up on jets.
Mumbai: Nirav Modi declared fugitive economic offender in PNB scam case
A special court here on Thursday declared diamond businessman Nirav Modi, the key accused in the USD 2 billion Punjab National Bank (PNB) fr...
PNB fraud: PMLA court declares Nirav Modi as fugitive economic offender
Nirav is the second businessman after Vijay Mallya to be declared a fugitive economic offender under provisions of the new Fugitive Economic Offenders Act, which came into existence in August last year. Nirav and his uncle Mehul Choksi are the prime accused in PNB fraud case, related to alleged fraudulent issuance of LoU that caused a loss of over $2 bn to the PSB.
Vijay Mallya's Kingfisher House to go under the hammer again
The Debts Recovery Tribunal has announced a new auction date of Nov 27 through an online bidding process, for the beleaguered property. From the original reserve price of Rs 135 cr during the first auction of the property -- valued at around Rs 150 cr in 2016 -- for the 8th auction this time, the reserve price is fixed at a staggeringly low of just Rs 54 cr.
IDBI Bank issues public notice on Vijay Mallya as 'wilful defaulter'
IDBI Bank NPA Management Group in Mumbai issued a public notice about wilful defaulter with the now defunct Kingfisher Airlines as the borrower and Vijay Mallya as the director and guarantor. Vijay Mallya is currently in London and the Indian government has initiated legal proceedings to seek his extradition.
Personal guarantees may aid bad loan resolution
In a notification on November 15, the ministry of corporate affairs (MCA) included personal guarantees on corporate loans under the bankruptcy code effective from December 1. The promoters who have given personal guarantees include Jet Airways founder Naresh Goyal & The Ruia family which just last week lost its Rs 42,000 crore battle to keep Essar Steel.
Vijay Mallya in a spot for ‘maligning’ Indian judiciary in English courts
Fugitive businessman Vijay Mallya has to deposit Rs 3,101 crore in the Debt Recovery Appellate Tribunal (DRAT) if his appeal before it has to be heard.
Supreme Court rejects CBI contention that flight risk of economic offenders a "national phenomenon"
The apex court, which granted bail to P. Chidambaram in the INX Media case, said there cannot be a "straight-jacket formula" for this so as to deny bail to an accused due to conduct of other offenders and each case should be considered on individual basis.
This LOC too is causing anguish, of a different kind
Most LOCs are only too real as a number of businessmen have been discovering to their discomfort.
Chidambaram behaves like Vijay Mallya, Nirav Modi: BJP
Chidambaram's lawyer has challenged the Delhi High Court's order rejecting his request for protection from arrest.
ED investigates 5 companies in connection with Vijay Mallya
The federal anti-money laundering agency suspects that these ‘dummy companies’ were allegedly controlled by Mallya.
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