Vijay Mallya, gave ‘The King of Good Times’ to the Indian youth.
His United Breweries Group has grown over 60 companies, turnover US$11 billion in 1998–1999
In 2005, he launched Kingfisher Airlines, which eventually became insolvent.
But by November 2015, Mallya reportedly owes Rs 9,000 crores to 17 banks in loans for his now defunct Kingfisher Airlines. While banks are trying their best to recover their money
Now Mallya was charged for crimes like money laundering and misappropriation.
Mallya has managed to skedaddle out of the country into a lavish country house in England with a cool 75 million in hand.
Vijay Mallya loses bankruptcy petition amendment
High Court battle in UK
London: May 18, ,2021
A consortium of Indian banks led by the State Bank of India (SBI) 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 businessman’s assets in India.
Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Mallya’s lawyers.......Read More
Vijay Mallya arrives at UK high court for extradition appeal
London: July 2,2019
U.K. judges have ruled that Indian entrepreneur Vijay Mallya may appeal his extradition to India in Britain's High Court.
Tuesday's ruling by a two-judge panel means the 63-year-old tycoon will be able to have a full hearing on his appeal to overturn an extradition order.....Read More
Vijay Mallya will have a final chance on 2 July to convince the High Court in London why he should not be extradited to face charges of fraud
London: April 30, 2019
Westminster Magistrates Court ordered his extradition to India in December, 2018 and confirmed by the Home Secretary, Sajid Javed, in February.
- If the High Court further confirms the extradition warrant, Mallya’s final recourse to prevent his enforced removal to India within 28 days would be to convince the European Court of Human Justice that under the provisions of its Rule 39 he would not receive a fair trial in India or that he would be held in inhumane conditions.
- Legal sources say it will be difficult to make such as case as the Indian authorities have upgraded the Arthur Road jail in Mumbai to meet his medical needs and have already convinced Westminster Magistrates that he will await trial in conditions that meet international standards.
- Mallya has, however, always maintained that the charges against him are trumped up and politically motivated
- Mallya’s counsel asked the court for an injunction against the confiscation of Mallya’s properties in India, but this was refused.
- On Thursday 's hearing, Mallya’s lawyer told the Bombay High Court that by declaring him a fugitive economic offender and allowing attachment of his assets, a special court had given him an “economic death penalty”, saying that the “debts and the interest on such debts are mounting”.
The Fugitive Economic Offenders Act that have been used against him, his counsel said Mallya had sufficient assets to pay off his “debts but the government won’t allow the use of these assets to clear the debts
Mallya criticise the government and banks for spending money on legal fees to recover money from him in the UK when he had offered to repay them in full in India.
Vijay Mallya To Be Extradited, Rules London Court
On December 10, 2018, UK, Westminster Magistrates’ Court ruled that Mr. Mallya, 62, should be extradited to India, sending the case to Home Secretary of State. The case is now in the hands of Home Secretary, Sajid Javid.
India had made a formal extradition request to the UK government in February 2017 for alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crores.
- Mr Mallya failed to convince the court that his prosecution was politically motivated. Mr Mallya believed that "clearly this is extremely political."
- Mr Mallya has 14 days to appeal to the High Court.
Mr. Vijay Mallya’s lawyers have argued that there was no sufficient evidence to pursue a case against him and that the prosecution was politically motivated. They also said he was at risk of being subjected to a flagrantly unfair trial because of a combination of political pressure and media reporting.
|June 13, 2017
Vijay Mallya extradition: India's Second Extradition Request could push the case back to April, 2018..
|On June 13, 2017 hearing, Vijay Mallya sought a date for March/April, 2018 but Crown Prosecution Service (CPS) confirmed that, there was no criticism of the extradition request and Senior district judge fixed next CMR hearing on July 6, 2017 when the dates for extradition hearing will be decided. According to Firstpost media reports: The NDA's efforts position itself as a government that takes earnest efforts to fight black money, corruption and cronyism received a major setback Tuesday as a UK court expressed surprise that India has not provided evidence to extradite fugitive business man Vijay Mallya yet. ................READ
|April 18, 2017
Vijay Mallya Liquor baron Kingfisher-Bear & owner of Kingfisher Airlines Arrested and got Bail within hours in UK
On : Mr Mallya arrested in London and the Westminster Magistrates' Court later gave him bail on a 650,000 pound bond and the court issued some stringent orders not to apply for travel documents nor attempt to leave the UK. The next hearing of the case will be on May 17, 2017 The Ministry of External Affairs of India made a formal request to extradite Mr. Mallya through a diplomatic note of request or ‘note verbale’ for defaulting on over Rs 8,000 crore in bank loans in India.
|Oct. 17, 2007
Vijay Mallya, chairman of United Breweries in India, owner of
Kingfisher Airlines, 50 pct strategic stake in US aircraft maker
Epic Aircraft (Oregon) for US $120 million and after buying up
Scotch maker Whyte & Mackay (W&M) for more than half a
billion dollars is considering listing his international spirits
business in the London Stock Exchange.
He said that a London listing would make it easier to raise capital
to fund international deals. He wants to import W&M's brands
into India as well as to China. There is strong demand worldwide
and strong growing demand within India. W&M is fourth largest
producer of Scotch whisky in the world after William Grant, Pernod
Ricard and Diageo.
UK news paper, The Daily Telegraph said the
London listing is unlikely to take place until next year once
W&M's operations have been more closely integrated into the
United Spirits' business. It is also unclear what valuation Mallya
would seek for the company.
Mallya’s United Spirits Ltd (USL) has decided to come in
with single malts, Dalmore and Jura, besides Whyte & Mackay
blended Scotch whisky. USL, India’s biggest and the world’s
third largest spirits marketer.....Full Story
|Oct. 08, 2007
Mallya, Kingfisher Airlines owner bought 50% stake in US aircraft
maker Epic Aircraft for 120 million. Vijay Mallya,
chairman of United Breweries in India, owner of Kingfisher Airlines
has bought a 50 pct strategic stake in US aircraft maker Epic
Aircraft (Oregon) for 120 mln usd, according to television channel
CNBC TV-18..... Full Story