Diabytes
Loan default case News
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In what could not be another set of disturbing news for Vijay Mallay, the Ministry of External Affairs is reportedly in talks with a 5-member government delegation from the United Kingdom discussing legal options of bringing the liquor baron back to India and face justice.
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A special court on Friday rejected bail of former CFO of Kingfiher Airlines A. Raghunathan, and IBDI bank's former chairman Yogesh Aggarwal and former Deputy Managing Director B K Batra.The court granted bail to six others arrested in the case.
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Loan default case: Bail applications of IDBI, Kingfisher Airline employees adjourned till 7 February
Mumbai's Special CBI court has adjourned bail applications of IDBI and Kingfisher Airline employees till 7 February.
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Bhartiya Janta Party found fodder for attacking Congress party in the election season, alleging on Monday that Manmohan Singh and former Finance Minister P Chidambaram pulled strings to ensure that tycoon Vijay Mallya's sick airline Kingfisher Airlines got loans despite weak financials.
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Two initial tranches of loan worth Rs 350 crore were hastily disbursed by IDBI bank to Kingfisher Airlines after a "holiday" meeting between liquor baron Vijay Mallya and the then bank CMD as both organisations "criminally conspired" to clear the entire deal despite weak financials of the airline, the ED has said.
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Continuing to play the victim card, chairperson of defunct Kingfisher Airlines, Vijay Mallya on Saturday demanded evidence from the Central Bureau of Investigation (CBI) and Security Exchange Board of India (SEBI) so as to justify the fraud charges they have levelled against him.
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United Progressive Alliance government seems to have unduly favoured Vijay Mallya in sanctioning loans despite not meeting parameters for credit worthy companies.
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Charging the liquor baron, the CBI said Vijay Mallya had misappropriated Rs 900 crore loan granted by a government-owned bank and diverted Rs 254 crore of the IDBI loan for "personal use".
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Dena Bank today reported a loss of Rs 44.3 crore for the September quarter on account of higher provisions for bad loans.
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The court also told Mallya to disclose what he did with USD 40 million he had received from Diageo.
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The Supreme Court on Tuesday will hear the plea filed by SBI-led consortium of banks against beleaguered businessman Vijay Mallya for recovery of more than Rs 6,000 crore from him.
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The 17-lender consortium led by State Bank of India will auction the Kingfisher Villa, the sea-facing plush property once-owned by the beleaguered Vijay Mallya in Goa, tomorrow.
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The Enforcement Directorate is likely to freeze the 30 crore loan amount or property of SP Singh.
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Beleaguered businessman Vijay Mallya has no intention to return to India and his passport was revoked due to his own conduct, the Enforcement Directorate told a Delhi court today.
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The Supreme Court on Tuesday will hear the plea of the State Bank of India-led consortium of 17 banks against liquor baron and Kingfisher chairman Vijay Mallya for bringing him back to India in connection with a loan defaulting case.
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The 17-lender consortium led by State Bank of India has put on sale embattled businessman Vijay Mallya's prime Goa property, the Kingfisher Villa, at a reserve price of Rs 85.29 crore.
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There is an interesting development in the Vijay Mallya loan default case. The beleaguered businessman has told Patiala House Court that he wants to return to India, but cannot come due to revocation of passport.
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A consortium of banks including SBI today told the Supreme Court that beleaguered businessman Vijay Mallya had deliberately not made full disclosure of his assets including USD 40 million which he received in February from a British firm.
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Giving ten days time to the SBI to file its response, the bench of Justice Kurian Joseph and Justice Rohinton Fali Nariman gave Mallya a week`s time to file his rejoinder as it directed the hearing of the matter on September 27, 2016.
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Banks on Monday told the Supreme Court that Vijay Mallya deliberately didn't make full disclosure of his assets including 40 million dollars he received in February.
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