Mallya default News
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A Delhi court issued open ended non-bailable warrant against Vijay Mallya for allegedly evading summons in FERA violation matter.
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Loans to the tune of Rs 8,040 crore was given to liquor baron Vijay Mallya when the previous UPA government was in power, but action against him for defaults is being taken by the Modi government Santosh Gangwar said.
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India takes the issue of defaulters very seriously, Finance Minister Arun Jaitley has said, indicating that he may raise the matter of liquor baron Vijay Mallya with his British counterpart.
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India`s United Breweries has fired indebted beer baron Vijay Mallya from his non-executive chairman role following an order from the country`s market regulator.
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SEBI barred Mallya from the stock market for fraudulently diverting about Rs. 1,881 crore from USL to various other entities within the UB Group.
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Corporate misconduct happens all over the world and one episode of liquor baron Vijay Mallya cannot undo the good work done by domestic and international companies in India, Commerce Minister Nirmala Sitharaman said on Friday.
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