Vijay Mallya seeks to sell assets worth ₹13,900 crore to settle dues
6 years, 6 months ago

Vijay Mallya seeks to sell assets worth ₹13,900 crore to settle dues

Hindustan Times  

Fugitive Indian businessman Vijay Mallya has sought court approvals to sell some frozen assets worth about 13,900 crores, making a fresh attempt to settle bank dues owed by his now-defunct Kingfisher Airlines Ltd. Mallya, 62, is fighting numerous lawsuits in the UK and India over fraud and money-laundering allegations after Indian lenders. Mallya and his United Breweries Holdings Ltd filed an application before a court in Karnataka on June 22, seeking permission to repay creditors from the proceeds of the sale, according to a statement on Tuesday. “I respectfully say that I have made and continue to make every effort, in good faith to settle with the public sector banks,” Mallya, who now lives in the UK, said in the statement. “If politically motivated extraneous factors interfere, there is nothing that I can do.” Mallya, 62, is fighting numerous lawsuits in the UK and India over fraud and money-laundering allegations after Indian lenders, under pressure from regulators to recover money from defaulters, have gone after the flamboyant former billionaire for unpaid debt of about $1.4 billion owed by his carrier that was grounded in 2012.

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History of this topic

Vijay Mallya says 'entitled to relief' after FM tells parl Rs 14,000 cr recovered
3 weeks, 6 days ago

Vijay Mallya says 'entitled to relief' after FM tells parl Rs 14,000 cr recovered

Firstpost  

Vijay Mallya claimed that the Indian banks have recovered more than double the amount owed in the Kingfisher Airlines case and said despite that he is labelled as ’economic offender’. The fugitive businessman also said that he is ’entitled to relief’ after Finance Minister Nirmala Sitharaman told the Parliament that PSUs have recovered Rs 14,131.60 crore from sale of assets …

Vijay Mallya claims has paid double his debt, now ‘entitled to relief’
3 weeks, 6 days ago

Vijay Mallya claims has paid double his debt, now ‘entitled to relief’

Hindustan Times  

Vijay Mallya, the fugitive businessman, has sparked a fresh controversy by claiming that banks have recovered more than twice the amount he owed. In a recent social media post, Mallya stated that banks have recovered ₹14,131.60 crore from him, whereas the Debt Recovery Tribunal had adjudged the Kingfisher Airlines debt at ₹6,203 crore, including ₹1,200 crore of interest. What Nirmala …

‘We have been wronged…’ Vijay Mallya replies to Lalit Modi’s birthday wishes
3 weeks, 6 days ago

‘We have been wronged…’ Vijay Mallya replies to Lalit Modi’s birthday wishes

Live Mint  

On-the-run Indian Premier League founder Lalit Modi's birthday wishes for Vijay Mallya on X today led to the fugitive liquor baron replying: “We have both been wronged”. Big big hug.” To this, Mallya replied: “Thank you my dearest friend….we both have been wronged in a Country we tried to contribute to.” Mallya Takes Aim At Sitharaman Notably, on December 18, …

Will pursue relief for ED, banks taking twice debt owed: Vijay Mallya
3 weeks, 6 days ago

Will pursue relief for ED, banks taking twice debt owed: Vijay Mallya

Live Mint  

New Delhi, Dec 19 Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. In a series of posts on social media platform X, Mallya said, "The Debt Recovery Tribunal adjudged the KFA debt at ₹6203 crore including ₹1200 crore of interest." On Tuesday, …

'How Can ED, Banks Take More Than Two Times Debt?' Vijay Mallya Day After Sitharaman's LS Speech
4 weeks ago

'How Can ED, Banks Take More Than Two Times Debt?' Vijay Mallya Day After Sitharaman's LS Speech

ABP News  

Day after Finance Minister Nirmala Sitharaman said that the Enforcement Directorate has recovered properties worth 14,131.6 crore from Vijay Mallya, the fugitive businessman said he is entitled to relief and asked the government agencies to justify how they have taken more than two times the debt. The FM announced in Parliament that through the ED,Banks have recovered Rs 14,131.60 crores …

Vijay Mallya hits back at FM Nirmala Sitharaman, asks how can I still be an offender, if...?
4 weeks ago

Vijay Mallya hits back at FM Nirmala Sitharaman, asks how can I still be an offender, if...?

Live Mint  

Hitting back at FM Nirmala Sitharaman's claim of recovering properties worth ₹14,131.6 crore, fugitive liquor baron Vijay Mallya on Wednesday said that he is entitled for relief and the agencies should legally justify how they have taken more than two times the debt. Responding to FM Sitharaman's claim Mallya said that debt recovery tribunal has adjusted his debt at ₹6203 …

From Vijay Mallya to Nirav Modi — ED restores over ₹22,000 crore worth assets from high-profile cases. Check full list
4 weeks, 1 day ago

From Vijay Mallya to Nirav Modi — ED restores over ₹22,000 crore worth assets from high-profile cases. Check full list

Live Mint  

From fugitive Vijay Mallya, Nirav Modi to Mehul Choksi — the Enforcement Directorate has restored properties worth ₹22,280 crore — said Finance Minister Nirmala Sitharaman on Tuesday. Recovery from Vijay Mallya Sitharaman said that ₹14,131.6 crore worth properties belonging to fugitive Vijay Mallya have been restored to public sector banks. Here's the full list Nirav Modi: ₹1,052.58 crore has been …

Fresh blow to Vijay Mallya: SEBI bars fugitive liquor baron from securities trading for 3 years
5 months, 3 weeks ago

Fresh blow to Vijay Mallya: SEBI bars fugitive liquor baron from securities trading for 3 years

India TV News  

The Securities Exchange Board of India on Friday barred Vijay Mallya from trading in India's securities market for three years. Mallya, who owns an 8.1% stake in United Breweries and a 0.01% stake in United Spirits, faces a Rs 9,000 crore bank loan default case involving Kingfisher Airlines. Non-bailable warrant issued On July 1, a special CBI court in Mumbai …

Fresh trouble for Vijay Mallya, CBI issues non-bailable warrant in ₹180-crore loan default case
6 months, 2 weeks ago

Fresh trouble for Vijay Mallya, CBI issues non-bailable warrant in ₹180-crore loan default case

Hindustan Times  

Fugitive businessman Vijay Mallya is now facing a fresh legal action by the Central Bureau of Investigation as a special CBI court issued a non-bailable warrant against him in the ₹180-crore loan default case linked to Indian Overseas Bank. Fugitive businessman Vijay Mallya The CBI, in its warrant, said the now-defunct Kingfisher Airlines promoter caused a wrongful loss of ₹180 …

CBI court issues non-bailable warrant against Vijay Mallya in Rs 180-crore loan default case
6 months, 2 weeks ago

CBI court issues non-bailable warrant against Vijay Mallya in Rs 180-crore loan default case

India TV News  

A special court in Mumbai has issued a non-bailable warrant against fugitive businessman Vijay Mallya in connection with a Rs 180-crore loan default case linked to Indian Overseas Bank. The court emphasised Mallya's status as a "fugitive" and cited previous non-bailable warrants issued against him based on CBI submissions, stating, "this is a fit case to issue an open-ended NBW …

Mallya Sent Funds to Children's Accounts & Force India F1 Team as Kingfisher Flew in Debt Turbulence
1 year, 9 months ago

Mallya Sent Funds to Children's Accounts & Force India F1 Team as Kingfisher Flew in Debt Turbulence

News 18  

Fugitive businessman Vijay Mallya received 40 million dollars from Diageo PLC in 2016, and transferred the funds to his children’s accounts, as well to the Force India Formula 1 Team Ltd, among other entities, as per the latest supplementary chargesheet filed by the CBI. As per the chargesheet, Mallya received 40 million USD from Diageo PLC in February 2016 and …

Former IDBI GM conspired with Vijay Mallya over short-term loan to Kingfisher Airlines: CBI
1 year, 9 months ago

Former IDBI GM conspired with Vijay Mallya over short-term loan to Kingfisher Airlines: CBI

The Hindu  

A senior IDBI Bank official allegedly conspired with businessman Vijay Mallya for sanction and disbursement of loan to the latter's Kingfisher Airlines, the Central Bureau of Investigation said in its supplementary charge sheet filed in a Mumbai court. As per the charge sheet, former IDBI Bank general manager Buddhadev Dasgupta abused his position, conspired with colleagues and Vijay Mallya in …

Vijay Mallya Had Funds to Repay Banks Before Fleeing, Chose to Buy 'Assets Worth Rs 330 Cr Abroad'
1 year, 9 months ago

Vijay Mallya Had Funds to Repay Banks Before Fleeing, Chose to Buy 'Assets Worth Rs 330 Cr Abroad'

News 18  

The Central Bureau of Investigation in its supplementary chargesheet filed in a Mumbai court has said that beleaguered businessman Vijay Mallya had enough funds with him to repay banks before he fled, but used that money to buy properties abroad instead. The CBI in its supplementary chargesheet said Vijay Mallya bought properties worth Rs 330 crore in England and France …

Vijay Mallya bought properties worth ₹330 crore in England, France: CBI
1 year, 9 months ago

Vijay Mallya bought properties worth ₹330 crore in England, France: CBI

Live Mint  

Vijay Mallya bought properties worth ₹330 crore in England and France during 2015-16 even as his Kingfisher Airlines was facing a cash crunch at that time and banks had not recovered the loans defaulted by the liquor baron, the CBI has claimed in its supplementary chargesheet filed in a court here. Mallya is an accused in the alleged over ₹900 …

Mallya’s plea dismissed by Supreme Court, fugitive offender declaration looms
1 year, 10 months ago

Mallya’s plea dismissed by Supreme Court, fugitive offender declaration looms

Live Mint  

The Supreme Court Friday dismissed a plea by businessman Vijay Mallya challenging the proceedings in a Mumbai court to declare him a fugitive economic offender and confiscate his properties. The Supreme Court in December 2018 issued notice to the Enforcement Directorate on Mallya’s plea, had refused to stay the proceedings on the probe agency’s plea before a special Prevention of …

Vijay Mallya: India’s supreme court rules against businessman who fled to UK
2 years, 6 months ago

Vijay Mallya: India’s supreme court rules against businessman who fled to UK

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Supreme Court of India …

Vijay Mallya sentenced to four months in jail by SC in contempt case
2 years, 6 months ago

Vijay Mallya sentenced to four months in jail by SC in contempt case

Deccan Chronicle  

New Delhi: The Supreme Court on Monday awarded four-month sentence to fugitive businessman Vijay Mallya in a contempt case. Observing that it must impose adequate punishment upon the contemnor in order to maintain the “majesty of law”, a bench headed by Justice U U Lalit also imposed a fine of Rs 2,000 on Mallya. While pronouncing the order on Monday, …

Supreme Court awards 4-month jail to Vijay Mallya in contempt case
2 years, 6 months ago

Supreme Court awards 4-month jail to Vijay Mallya in contempt case

The Hindu  

The Supreme Court on July 11 sentenced fugitive businessman Vijay Mallya to four months' imprisonment and ₹2,000 fine almost five years after he was found guilty of contempt of court. "We direct that the transaction referred to in the judgment of May 9, 2017 in terms of which the amount of $40 million was disbursed to the beneficiaries is void …

₹2000 fine, 4-month jail to Vijay Mallya; ‘didn’t show remorse,’ says SC
2 years, 6 months ago

₹2000 fine, 4-month jail to Vijay Mallya; ‘didn’t show remorse,’ says SC

Live Mint  

The Supreme Court on Monday awarded four-month sentence to fugitive businessman Vijay Mallya, accused in bank loan default case of over ₹9,000 crore involving his defunct Kingfisher Airlines, in a contempt case. Earlier, the apex court, during the hearing, had noted that Mallya behaves like "a free person" in the United Kingdom and no information was forthcoming about the proceedings …

Supreme Court Sentences Vijay Mallya To 4 Months Imprisonment For Contempt Of Court; Asks Him To Deposit 40 Million US Dollars
2 years, 6 months ago

Supreme Court Sentences Vijay Mallya To 4 Months Imprisonment For Contempt Of Court; Asks Him To Deposit 40 Million US Dollars

Live Law  

The Supreme Court on Monday sentenced fugitive liquor baron Vijay Mallya to four months imprisonment and a fine of Rupees 2000 for contempt of court.Mallya was found guilty in 2017 for transferring USD 40 million to his children in violation of the orders passed in a case filed by a consortium of banks led by the State Bank of India.Pronouncing …

'Didn't show any remorse, adequate punishment must': SC on Vijay Mallya
2 years, 6 months ago

'Didn't show any remorse, adequate punishment must': SC on Vijay Mallya

Hindustan Times  

The Supreme Court on Monday sentenced fugitive liquor baron Vijay Mallya to four months jail term and a fine of ₹2000 under contempt charge. Fugitive liquor baron Vijay Mallya The Supreme Court also ordered Mallya's family members to return USD 40 million transferred to them in violation of the court orders. The Supreme Court had said that it has given …

Setback for Vijay Mallya as Supreme Court to declare punishment on Monday
2 years, 6 months ago

Setback for Vijay Mallya as Supreme Court to declare punishment on Monday

Hindustan Times  

The Supreme Court on Monday will declare the punishment for fugitive liquor baron Vijay Mallya in a 2017 contempt case. Fugitive liquor baron Vijay Mallya In February, Solicitor General Tushar Mehta had told the Supreme Court that the banks had recovered a total of ₹18,000 crores from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi. Mallya is currently pursuing appeals …

BREAKING| Supreme Court To Pronounce Sentence Of Vijay Mallya For Contempt Of Court On July 11
2 years, 6 months ago

BREAKING| Supreme Court To Pronounce Sentence Of Vijay Mallya For Contempt Of Court On July 11

Live Law  

The Supreme Court will pronounce the sentence of fugitive liquor baron Vijay Mallya for contempt of court for violation of court orders on July 11.A bench comprising Justices U U Lalit, S Ravindra Bhat and PS Narasimha had reserved orders on the sentence on March 10. The Supreme Court will pronounce the sentence of fugitive liquor baron Vijay Mallya for …

Supreme Court Reserves Orders On Sentence Of Vijay Mallya In Contempt Case
2 years, 10 months ago

Supreme Court Reserves Orders On Sentence Of Vijay Mallya In Contempt Case

Live Law  

The Supreme Court on Thursday reserved orders on the sentence of fugitive liquor baron Vijay Mallya in the contempt of court case against him over violation of orders in a case relating to loan default of over Rs 9000 crores of the defunct Kingfisher airlines.A bench comprising Justice UU Lalit, Justice S Ravindra Bhat and Justice Bela M Trivedi heard …

Supreme Court adjourns hearing on contempt case filed against fugitive Vijay Mallya
2 years, 10 months ago

Supreme Court adjourns hearing on contempt case filed against fugitive Vijay Mallya

Firstpost  

The bench had said it has given multiple opportunities to Mallya to appear either personally or through a lawyer and had even given specific directions in its last order dated 30 November, 2021. New Delhi: The Supreme Court adjourned till Thursday hearing on a plea related to the appearance of fugitive businessman Vijay Mallya, accused in bank loan default case …

Supreme Court adjourns Vijay Mallya\'s contempt case hearing for next week
2 years, 10 months ago

Supreme Court adjourns Vijay Mallya\'s contempt case hearing for next week

Deccan Chronicle  

New Delhi: The Supreme Court on Thursday adjourned the hearing for next week of the contempt case against fugitive businessman Vijay Mallya who was found guilty in a contempt case for withholding information from the court. The top court had held Mallya guilty of contempt of court for transferring USD 40 million to his children in violation of the court's …

Supreme Court Adjourns Vijay Mallya's Sentence Hearing In Contempt Case For Next Week
2 years, 10 months ago

Supreme Court Adjourns Vijay Mallya's Sentence Hearing In Contempt Case For Next Week

Live Law  

The Supreme Court on Thursday adjourned for next week sentence hearing in contempt case against fugitive businessman Vijay Mallya who was found guilty of contempt in 2017 for disobeying court's order for not disclosing full particulars of assets in case between SBI and Kingfisher Airlines.The matter was listed before the bench of Justices UU Lalit, SR Bhat and PS Narasimha.On …

Rs 18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi
2 years, 10 months ago

Rs 18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi

Op India  

The Central Government has told to the Supreme Court that Rs 18000 crore have been returned to the banks which were stifled by fugitives Vijay Mallya, Nirav Modi, and Mehul Choksi until now. While comparing the numbers with the global data, Tushar Mehta added, “very small number of cases are being taken up for investigation under the PMLA as compared …

18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi: Government
2 years, 10 months ago

18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi: Government

Hindustan Times  

Banks have recovered ₹18,000 crore from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, Solicitor General Tushar Mehta told the Supreme Court on Wednesday. Mehta told the top court bench, led by Justice AM Khanwilkar, that the value of cases registered under the Prevention of Money Laundering Act against Mallya, Modi, and Choksi is now ₹67,000 crore. Vijay Mallya is …

Vijay Mallya gets last chance to defend himself, asked to appear in SC on Feb 24
2 years, 11 months ago

Vijay Mallya gets last chance to defend himself, asked to appear in SC on Feb 24

Hindustan Times  

The Supreme Court on Thursday gave one last opportunity to fugitive liquor baron Vijay Mallya to defend himself either personally or through a lawyer within two weeks, news agency ANI reported. Vijay Mallya is wanted in India over fraud and money laundering charges in relation to loans taken out by his now-defunct Kingfisher Airlines from state-owned Indian banks A top …

Vijay Mallya faces eviction from luxury home in London due to verdict in loan default case
2 years, 11 months ago

Vijay Mallya faces eviction from luxury home in London due to verdict in loan default case

Firstpost  

Mallya held a mortgage obtained from UBS on the multi-million-pound property, located along Cornwall Terrace in one of the most sought after areas of the British capital, minutes from Regent’s Park and attractions such as Madame Tussaud’s wax museum London: The fugitive Kingfisher tycoon Vijay Mallya is facing the prospect of a humiliating eviction from the luxury Central London home …

Fugitive businessman Vijay Mallya faces eviction from his luxurious London home over unpaid loans
2 years, 11 months ago

Fugitive businessman Vijay Mallya faces eviction from his luxurious London home over unpaid loans

Op India  

A UK court on Tuesday ruled against the fugitive businessman Vijay Mallya in a dispute with Swiss Bank UBS following which he now faces enforced eviction from his multi-million pound luxury home in London. On Tuesday, a sitting judge of Chancery Division of High Court turned down request by the lawyers of Mallya on stay on repayment of UBS loan. …

13k cr recovered from asset sale of Nirav Modi, Vijay Mallya: FM
3 years ago

13k cr recovered from asset sale of Nirav Modi, Vijay Mallya: FM

Op India  

Union Finance Minister Nirmala Sitharaman on Monday informed how banks have collected roughly Rs 13,109 crore from asset sales of defaulters such as fugitive diamantaire Nirav Modi, Mehul Choksi, and erstwhile liquor baron Vijay Mallya. Fugitive businessman and prime accused in the Rs 14,000 crore PNB scam, Nirav Modi is currently lodged in the Wandsworth jail in southwest London and …

Vijay Mallya contempt case to be dealt with finally on Jan 18: Supreme Court
3 years, 1 month ago

Vijay Mallya contempt case to be dealt with finally on Jan 18: Supreme Court

Hindustan Times  

The Supreme Court on Tuesday said that the case involving fugitive businessman Vijay Mallya will be dealt with finally on January 18 next year. Mallya’s review petition was dismissed by the Supreme Court in August last year. The Supreme Court bench, also comprising justices S R Bhat and Bela M Trivedi, said it will list the matter in January for …

Supreme Court says contempt matter involving Vijay Mallya to be dealt with on 18 January
3 years, 1 month ago

Supreme Court says contempt matter involving Vijay Mallya to be dealt with on 18 January

Firstpost  

Mallya, an accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, has been in the UK since March 2016 New Delhi: The Supreme Court Tuesday said the contempt matter involving fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, will be dealt …

Kingfisher Airlines Case: Vijay Mallya Mocks Banks for Saying He Still Owes Them Money
3 years, 5 months ago

Kingfisher Airlines Case: Vijay Mallya Mocks Banks for Saying He Still Owes Them Money

News 18  

With reports of IDBI Bank fully recovering its dues from now-defunct Kingfisher Airlines, fugitive businessman Vijay Mallya on Thursday mocked banks for saying he still owed them money. His tweet comes after a British court on Monday granted a bankruptcy order against him, paving the way for a consortium of Indian banks led by the State Bank of India to …

Fugitive economic offender Vijay Mallya declared bankrupt by London court
3 years, 5 months ago

Fugitive economic offender Vijay Mallya declared bankrupt by London court

Op India  

On July 26, the Insolvency and Companies Court of the London high court declared Indian fugitive and businessman Vijay Mallya bankrupt. In a tweet Mallya said, “ED attach my assets worth 14K crores at behest of Govt Banks against debt of 6.2K crores. They restore assets to Banks who recover 9K crores in cash and retain security over 5K crores …

UK court declares Vijay Mallya bankrupt for Indian banks to realise debt
3 years, 5 months ago

UK court declares Vijay Mallya bankrupt for Indian banks to realise debt

The Hindu  

A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the SBI to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines. “As at 15.42, I adjudicate Dr. Mallya bankrupt,” Chief Insolvencies and Companies Court Judge Michael Briggs said in …

SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines' shares in Vijay Mallya case
3 years, 5 months ago

SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines' shares in Vijay Mallya case

India TV News  

The State Bank of India-led consortium that lent loans to fugitive businessman Vijay Mallya on Friday received Rs 792.11 crore in its accounts after some shares, earlier attached under the anti-money laundering law, were sold, the Enforcement Directorate said. Apart from the Mallya case, the other case pertains to over Rs 13,500 crore alleged bank loan cheating in the Brady …

Explained | Will the money recovered from Vijay Mallya, Nirav Modi and Mehul Choksi help banks?
3 years, 6 months ago

Explained | Will the money recovered from Vijay Mallya, Nirav Modi and Mehul Choksi help banks?

The Hindu  

The story so far: The Enforcement Directorate on June 23 came out with a statement saying that it has seized assets worth ₹18,170.02 crore belonging to three fugitive businessmen. The seized assets belong to liquor baron Vijay Mallya and diamond traders Nirav Modi and Mehul Choksi — all three left India before law enforcement agencies could nab them for fraud. …

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered
3 years, 6 months ago

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered

India TV News  

About 40 per cent of the money lost by banks in alleged frauds perpetrated by fugitive businessmen Nirav Modi, Mehul Choksi and Vijay Mallya has been recovered so far, the Enforcement Directorate said after the sale of attached shares worth over Rs 5,800 crore on Wednesday. "The quantum of the attached and seized assets represent 80.45 per cent of the …

Assets worth Rs 18,170 crore of Vijay Mallya, Nirav Modi, Mehul Choksi attached; 80% losses recovered: ED
3 years, 6 months ago

Assets worth Rs 18,170 crore of Vijay Mallya, Nirav Modi, Mehul Choksi attached; 80% losses recovered: ED

India TV News  

The Enforcement Directorate has said that it had transferred a part of the attached or seized assets in cases related to fugitive billionaires Vijay Mallya, Nirav Modi and Mehul Choksi, to state-run banks and the Centre. Of the Rs 18,170.02 crore worth of assets seized, the ED said it has transferred Rs 9,371.17 crore to the government and public sector …

ED gives banks ₹9,371 crore assets seized from Vijay Mallya, Nirav Modi, Mehul Choksi
3 years, 6 months ago

ED gives banks ₹9,371 crore assets seized from Vijay Mallya, Nirav Modi, Mehul Choksi

Hindustan Times  

The Enforcement Directorate on Tuesday transferred assets worth ₹8,441 crore to banks who suffered losses due to frauds by Vijay Mallya, Nirav Modi and Mehul Choksi. With the latest transfer, assets worth ₹9,371 crore have been handed over to the banks so far, which amounts to 40% of their losses, the agency said. While Mallya is accused of defrauding a …

Court allows banks to sell Vijay Mallya's real estate assets and securities
3 years, 7 months ago

Court allows banks to sell Vijay Mallya's real estate assets and securities

Hindustan Times  

A Prevention of Money Laundering Act court has allowed banks to sell certain real estate assets and securities and of fugitive business tycoon Vijay Mallya to recover their debts. Vijay Mallya was declared as a fugitive economic offender in January 2019 by a special court in Mumbai. "The PMLA court has given permission to banks to sell gcertain real estate …

Where Was Fraud, Asks Vijay Mallya over PMLA Court's Nod to Sell His Properties to Recover Loans
3 years, 7 months ago

Where Was Fraud, Asks Vijay Mallya over PMLA Court's Nod to Sell His Properties to Recover Loans

News 18  

After a special Prevention of Money Laundering Act court passed an order permitting the sale of certain real estate properties and securities of Vijay Mallya to recover his unpaid loans, the Fugitive businessman on Friday questioned “where was the fraud” committed by him. Where is the cheating or fraud?” The PMLA court ordered that some of his real estate properties …

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues
3 years, 7 months ago

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues

India TV News  

Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India, had approached a special Prevention of Money Laundering Act court …

Vijay Mallya loses UK appeal for more funds to cover Indian legal fees
3 years, 7 months ago

Vijay Mallya loses UK appeal for more funds to cover Indian legal fees

India TV News  

Vijay Mallya on Wednesday lost an appeal to gain further access to court-held funds to cover his costs for legal proceedings in India, as a High Court judge in London concluded that the 65-year-old businessman had failed to provide sufficient evidence in support of the over 750,000 pounds being sought. The latest appeal follows Deputy Insolvency and Companies Court Judge …

Vijay Mallya loses bankruptcy petition amendment High Court battle in UK
3 years, 7 months ago

Vijay Mallya loses bankruptcy petition amendment High Court battle in UK

India TV News  

A consortium of Indian banks led by the State Bank of India on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya’s now-defunct Kingfisher Airlines after the High Court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman’s assets in …

Taking All Efforts to Extradite Fugitive Businessman Vijay Mallya: Centre to SC
3 years, 11 months ago

Taking All Efforts to Extradite Fugitive Businessman Vijay Mallya: Centre to SC

News 18  

The Centre on Monday told the Supreme Court that it is taking all efforts to extradite fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines from United Kingdom, but the process is being delayed to some legal issues involved in the matter. In November 2020, Foreign secretary Harshvardhan Shringla …

Liquor Tycoon Vijay Mallya Denied Permission to Appeal in UK Bankruptcy Case
4 years ago

Liquor Tycoon Vijay Mallya Denied Permission to Appeal in UK Bankruptcy Case

News 18  

Liquor tycoon Vijay Mallya was on Wednesday denied permission to appeal against a UK High Court order refusing to dismiss bankruptcy proceedings brought by a consortium of Indian banks led by the State Bank of India, in their pursuit of debt related to his now-defunct Kingfisher Airlines. The 65-year-old businessman, who remains on bail in the UK, had filed a …

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