From Kingfisher to SpiceJet, a Bumpy Ride?
Dec 18, 2014
No risk to us via Kingfisher Airlines loan: SREI
Mar 18, 2013
Press Trust of India | Sunday September 20, 2015
The Serious Fraud Investigation Office (SFIO) is expected to take at least six months to complete its investigation into alleged fund diversions by the now defunct Kingfisher Airlines to other Vijay Mallya group companies.
NDTV | Wednesday September 16, 2015
An auditor's inquiry into United Spirits' financial accounts, conducted after Diageo took control, showed that between 2010 and 2013, funds were allegedly diverted illegally from the company to some of Mallya's group firms, including Kingfisher.
Press Trust of India | Tuesday September 15, 2015
Once a flagship firm of Mallya group, United Spirits Ltd (USL) is now controlled by British liquor giant Diageo.
Press Trust of India | Sunday August 23, 2015
More than 100 listed companies, including United Spirits Ltd and long-grounded Kingfisher Airlines, have been slapped penalties for violating listing agreement provisions set forth by capital market regulator Securities and Exchange Board of India (Sebi) and bourses.
Press Trust of India | Tuesday August 4, 2015
Grounded Kingfisher Airlines on Tuesday said Bharath Raghavan has ceased to be its company secretary and compliance officer from July 31.
Press Trust of India | Thursday July 30, 2015
Failure by the Airports Authority of India to take timely action against now defunct Kingfisher Airlines for non-payment of dues and allowing it to operate on credit basis led to losses worth Rs 290 crore, the Comptroller and Auditor General (CAG) has said.
Thomson Reuters | Monday July 13, 2015
The country's enforcement directorate, responsible for fighting financial crime, has alleged Mr Mallya entered into an unauthorised agreement in 1995 to advertise the Kingfisher beer brand name on racing cars during Formula One championships between 1996 and 1998.
Press Trust of India | Tuesday July 7, 2015
Diageo-controlled United Spirits Ltd (USL) has exited from Vijay Mallya-led United Breweries Ltd by selling its entire 3.21 per cent stake in the company for Rs 872 crore.
Monday June 15, 2015
The exchanges, in November, had suspended trading in shares of these two Vijay Mallya-led UB Group companies.
India News | Written by Sandeep Phukan | Thursday June 11, 2015
The civil aviation ministry is taking a re-look at a rule that does not allow an Indian airline to fly international until they complete five years of operation and have a fleet of 20 aircraft.
Wednesday June 10, 2015
Unit Trust of India Investment Advisory Services Ltd (UTI-IAS) has acquired liquor baron Vijay Mallya's 3.97 per cent voting rights on pledged shares in United Breweries Ltd (UBL) following default.
Wednesday May 27, 2015
USL said its Board has asked MD and CEO Anand Kripalu to further probe "possible existence of any other transaction of a similar nature" with certain "additional parties", in which the probe had raised concerns.
Tuesday May 26, 2015
United Bank of India on Monday informed the BSE that it does not expect to recover Rs 400 crore it had lent to the grounded Kingfisher Airlines in the short run but hoped the recovery could be possible in the long-run.
Sunday May 24, 2015
Interestingly, the Kolkata-based lender was the first bank to attempt to get Vijay Mallya, the chairman of Kingfisher Airlines, tagged as a wilful defaulter.
Sunday May 3, 2015
Facing a multi-agency scrutiny, Diageo-owned United Spirits Ltd (USL) may have to restate its financial accounts, even as some investor groups have begun to question the UK-based parent's long silence on allegations against the erstwhile main promoters, Vijay Mallya-led UB Group.
Monday April 27, 2015
With United Spirits asking its chairman Vijay Mallya to quit, the majority owner Diageo on Monday said its "contractual obligations" to support his presence would not apply in the event of "defaults" by the Indian businessman and his group firm UB Holdings Ltd.
Sunday April 26, 2015
Alleging fund diversion to Kingfisher and other United Breweries group entities, United Spirits' new owner Diageo has asked Vijay Mallya to step down as chairman and director of the Indian liquor firm, a demand he has rejected.
Press Trust of India | Tuesday April 7, 2015
Before the top court, the airline also claimed that it has already paid Rs 145 crore out of the total demand.
Tuesday February 24, 2015
Five private carriers, including the grounded Kingfisher, had to pay dues worth over Rs 664 crore to the Airports Authority of India (AAI) at the end of December 2014, the government said today.
Press Trust of India | Wednesday February 25, 2015
Clamping down on Vijay Mallya-led UB Group to recover loans, a 17-bank consortium led by State Bank of India (SBI) on Tuesday took over possession of the prized Kingfisher House, estimated to be worth Rs 100 crore.
Press Trust of India | Thursday February 19, 2015
Kingfisher Airlines board has accepted the resignation of Sanjay Aggarwal, who had put in his papers as chief executive officer nearly a year ago.
Saturday January 10, 2015
A package to bail out SpiceJet Ltd could be finalised as early as this month, two sources with direct knowledge of the deal told Reuters, raising the prospect of a last-minute rescue for the indebted carrier.
Wednesday January 7, 2015
In February 2013, bankers publicly stated they had lost faith in the management's ability to revive the company.
Tuesday January 6, 2015
A consortium of 17 banks, which had collectively lent over Rs 7,000 crore to the crisis-ridden airline, have initiated recovery proceedings under the available legal avenues using the underlining securities which they had.