Who is mallya

A consortium of Indian banks led by the State Bank of India SBI was back for a high court hearing in London on Friday in pursuit of a bankruptcy order against embattled liquor tycoon Vijay Mallya, as they attempt recovery of debt from loans paid out to his now-defunct Kingfisher Airlines.

Vijay Mallya, Nirav Modi, Mehul Choksi are all coming back to face law of the land, Sitharaman said in the Rajya Sabha while replying to a debate on the insurance amendment bill.

Noting the urgency and desire on the part of India to extradite people accused of corruption, the UK on Friday said a "legal process" is on in Vijay Mallya's matter and it has to be followed through as there cannot be any shortcut.

You must login to keep earning daily check-in points. Lifetime 0 Expired 0 Redeemed 0. Total redeemable TimesPoints 0. Fri, Nov 12, Updated Notification Center.

News » Vijay Mallya. Vijay Mallya, born as Vijay Vittal Mallya, is one of India's the leading businessman who is the boss of an entire liquor empire, United Breweries.

He also started one of India's leading private airlines, Kingfisher Airlines, which is currently non functional. Vijay is the son of entrepreneur, Vittal Mallya, who was the ex-chairman of United Spirits Ltd, which is the largest spirits company in India. Vijay Mallya was once called the "King of Good Times" due to his extravagant lifestyle. But since , he and his companies have been embroiled in financial scandals and controversies. He was declared offender after being accused of a loan fraud by a number of banks.

On March 2, he left India saying that he wanted to move to Britain to be closer to his children. Ansals will join these big businessmen in jail. Sidhartha Mallya's journey through depression and mental health.

Life in a gilded cage: What it's like being Vijay Mallya's son. OCD is like living with a demon on your shoulder: Sidhartha Mallya. Let's reshape it today. Corning Gorilla Glass TougherTogether.

ET India Inc. ET Engage. ET Secure IT. Web Stories. Morning Brief Podcast. Economy Agriculture. Foreign Trade. Company Corporate Trends. Defence National International Industry.

International UAE. The year-old fugitive is wanted in India in connection with the Rs 13, crore fraud in Punjab National Bank. Including this, the agency has so far transferred attached assets worth Rs 8, According to ED, Vijay Mallya, Nirav Modi and Mehul Choksi have defrauded public sector banks by siphoning off the funds through their companies which resulted in total loss of Rs 22, The latest sale proceeds, as per the agency, would take the total value of recovery to Rs 9, Including this amount, the ED has so far transferred attached assets worth Rs Mehul Choksi's lawyer, as quoted by ANI, said, "ED has indeed attached assets much more than the money due to the banks.

Further, if one looks at the principal amount and the kind of haircut banks are taking in NCLT National Company Law Tribunal or otherwise in OTS, in this case, banks will recover more than a hundred per cent of the principal as well as interest.

Dutch brewer Heineken NV on Wednesday said it had bought Based on Tuesday's close at 1, Indian rupees, the acquisition would be worth ED in a tweet said it seized assets worth of Rs 18, The financial crime investigation agency said it has already transferred Rs 9, The transfer shares owned by the Vijay Mallya group are under custody of the recovery officer of the Bengaluru Debts Recovery Tribunal.

As per the application, the acquirer or Heineken International is presently evaluating the acquisition of a maximum of 3,96,44, equity shares, amounting to Banks ask Court to make me Bankrupt as they may have to return money to the ED. Click here to join our channel indianexpress and stay updated with the latest headlines. Home Explained Explained: What the bankruptcy order against Vijay Mallya means; the case so far Explained: What the bankruptcy order against Vijay Mallya means; the case so far Vijay Mallya will now have to hand over all his debit and credit cards as well as his remaining assets to a bankruptcy trustee.

Best of Explained. Click here for more. The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards. Tags: Express Explained Vijay Mallya.