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United Spirits writes off Rs 566 crore dues from UB Group cos

May 27, 2016

United Spirits writes off Rs 566 crore dues from UB Group cos

USL, which had initiated a management inquiry into the alleged fund diversion, said "between 2010 and 2013 many of these transactions were diverted from the company and or its subsidiaries to certain UB Group, including Kingfisher Airlines #Kingfisher Airlines #dues #United Spirits #United Breweries #USL
ED to invoke India-UK mutual treaty to extradite Mallya

May 23, 2016

ED to invoke India-UK mutual treaty to extradite Mallya

ED is soon expected to make a fresh request for Vijay Mallya's extradition under the India- UK Mutual Legal Assistance Treaty (MLAT) in connection with its money laundering probe against the liquor baron in an alleged bank loan fraud case. #NewsTracker #Kingfisher Airlines #Vijay Mallya #India- UK Mutual Legal Assistance Treaty #Mallya money laundering case
Bankruptcy Bill breaks Modi's reform jinx but GST failure spoils party

May 12, 2016

Bankruptcy Bill breaks Modi's reform jinx but GST failure spoils party

After two successive washed-out Parliament sessions (Monsoon and Winter), the passage of Insolvency and Bankruptcy Code, 2016 in the budget session becomes the saving grace for the Narendra Modi-government to avert a wash-out hat trick, even as the big-ticket item, the Goods and Services Tax (GST), continues to be the victim of bad politics. #Rajya Sabha #Kingfisher Airlines #Lok Sabha #Vijay Mallya #GST #wilful defaulters #PM Narendra Modi #Bankruptcy bill #DRT #bank gross NPA
Rajya Sabha passes Bankruptcy code: Can it help banks address the bad loan issue?

May 12, 2016

Rajya Sabha passes Bankruptcy code: Can it help banks address the bad loan issue?

The Rajya Sabha on Wednesday cleared the long-awaited Insolvency and Bankruptcy Code, 2016, that seeks to improve the ease of doing business in the country by enabling banks to wind up companies faster if resolution isn’t feasible. Lok Sabha passed the Bill on last Thursday. #Banks #World Bank #Rajya Sabha #ConnectTheDots #Kingfisher Airlines #Lok Sabha #Vijay Mallya #bad loans #ease of doing business #Gross NPA #Bankruptcy bill #DRT #nod
Cheque bounce case: Court to pass order against Mallya on May 9

May 05, 2016

Cheque bounce case: Court to pass order against Mallya on May 9

A local court today said it will pronounce on May 9 its order on the quantum of sentence for beleaguered industrialist Vijay Mallya, who was convicted in two cheque bounce cases filed against him by GMR Hyderabad International Airport Ltd. #Kingfisher Airlines #Vijay Mallya #GMR #cheque bounce case #Hyderabad court #III Special Magistrate Court
Mallya calls it a day in Rajya Sabha, quits House to escape expulsion

May 04, 2016

Mallya calls it a day in Rajya Sabha, quits House to escape expulsion

Mallya had sent in a fresh resignation on Wednesday after Rajya Sabha Secretariat General informed him on Tuesday about its rejection on procedural grounds. #Business #Rajya Sabha #NewsTracker #Kingfisher Airlines #Vijay Mallya #Hamid Ansari #Upper house #UB Group