Debt Recovery-tribunal

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Debt Recovery-tribunal - Total results - 24
Debt Recovery Tribunal asks estranged partner Vikram Bakshi, McDonald's India to appear before it
Business

Debt Recovery Tribunal asks estranged partner Vikram Bakshi, McDonald's India to appear before it

Earlier this month, McDonald's reached an out-of-court settlement with Bakshi, buying out Connaught Plaza Restaurants from the joint venture

Amrapali Group committed first degree crime by cheating home buyers, will be booked and prosecuted, says Supreme Court
Business

Amrapali Group committed first degree crime by cheating home buyers, will be booked and prosecuted, says Supreme Court

Amrapali Group "cheated everybody including home buyers, banks and authorities and indulged in cartelization to prevent the Debt Recovery Tribunal from auctioning its unencumbered properties", SC said.

Sale of Vijay Mallya's shares worth Rs 1,000 cr cleared; liquidator to sell 7.4 mn United Breweries' stocks today
Business

Sale of Vijay Mallya's shares worth Rs 1,000 cr cleared; liquidator to sell 7.4 mn United Breweries' stocks today

This is the first sale of Vijay Mallya's confiscated assets by the authorities since he left the country in March 2016

SBI denies laxity on its part in dealing with Vijay Mallya case, says taking proactive measures to recover defaulted amount
Business

SBI denies laxity on its part in dealing with Vijay Mallya case, says taking proactive measures to recover defaulted amount

The comments by State Bank of India (SBI) came after reports suggested that the bank, which was the lead lender to Kingfisher Airlines, was in February 2016 advised to move the Supreme Court to stop Mallya from fleeing the nation but the lenders moved the apex court only after the tycoon had left the country four days later.

UK court orders Vijay Mallya to pay 200,000 pounds in costs to Indian banks trying to recover dues
Business

UK court orders Vijay Mallya to pay 200,000 pounds in costs to Indian banks trying to recover dues

Separately, Vijay Mallya is due back at the Westminster Magistrates Court in London next month for one of the final hearings in his extradition case.

UK court ruling: Vijay Mallya's assets in England, Wales may go under hammer to recover money owed to Indian banks
Business

UK court ruling: Vijay Mallya's assets in England, Wales may go under hammer to recover money owed to Indian banks

Judge Andrew Henshaw refused to overturn a worldwide order freezing 62-year-old Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion

Vijay Mallya loses UK lawsuit over Rs 10,000 crore in Indian claims; ruling to benefit IDBI Bank, Modi and the BJP
Business

Vijay Mallya loses UK lawsuit over Rs 10,000 crore in Indian claims; ruling to benefit IDBI Bank, Modi and the BJP

A London court has reportedly backed India's claims that former liquor baron Vijay Mallya is a wilful defaulter.

DRT orders: While Nirav Modis, Mehul Choksis escape net, people like Nirmala Prakash stand to lose their homes
Business

DRT orders: While Nirav Modis, Mehul Choksis escape net, people like Nirmala Prakash stand to lose their homes

Post-Nirav Modi scam, DRT is flooded with cases for adjudication and recovery by banks but a senior officer said on the condition of anonymity that the majority of big cases involving huge sums of money are being settled as per the whims and fancies of bank officials and big borrowers.

UK court allows three-fold increase in Vijay Mallya’s weekly allowance; liquor baron to get 18,000 pounds
India

UK court allows three-fold increase in Vijay Mallya’s weekly allowance; liquor baron to get 18,000 pounds

Embattled liquor baron Vijay Mallya, wanted in India on charges of fraud and money laundering, will get over 18,000 pounds as weekly allowance, a three-fold increase following a recent UK High Court order.

Vijay Mallya $1.5 bn assets freeze order in UK courts until April 2018
Business

Vijay Mallya $1.5 bn assets freeze order in UK courts until April 2018

Vijay Mallya, who is undergoing an extradition trial in a UK court over Rs 9,000-crore fraud and money laundering charges, will face next year a parallel litigation brought by 13 Indian banks to freeze nearly $1.5 billion of his assets

New bankruptcy law nets first victim, Innoventive Industries; but questions raised on its efficiency
Business

New bankruptcy law nets first victim, Innoventive Industries; but questions raised on its efficiency

The Reserve Bank of India has already told banks to push 12 of the largest defaulters into insolvency, but experts worry the framework is largely untested

Vijay Mallya taking Supreme Court for a ride; initiate contempt proceedings, urge banks
Business

Vijay Mallya taking Supreme Court for a ride; initiate contempt proceedings, urge banks

The banks accused Vijay Mallya of contempt of court as he did not disclose before the court the transfer of $40 million to his son and daughters

SC's tough questions to Vijay Mallya: Were your asset disclosure, $40 mn transfer to kids kosher?
Business

SC's tough questions to Vijay Mallya: Were your asset disclosure, $40 mn transfer to kids kosher?

A bench of Justice Adarsh Kumar Goel and Justice and U.U. Lalit also reserved its order on their plea seeking initiation of contempt proceedings against Mallya.

DRT verdict against Mallya: SBI-led consortium gets orders to initiate recovery of Rs 6,203 cr dues
Business

DRT verdict against Mallya: SBI-led consortium gets orders to initiate recovery of Rs 6,203 cr dues

The fresh order today in favour of the lending cosortium will allow them to initiate the recovery proceedings and confiscate his properties

SC to Vijay Mallya: Explain transfer of $40 mn to your children
Business

SC to Vijay Mallya: Explain transfer of $40 mn to your children

In October last year the court had rapped Mallya for not making full disclosure of his overseas properties and had asked him to do so within a month.

Vijay Mallya case: DRT says order restricting $75 mn transfer 'infructuous'
Business

Vijay Mallya case: DRT says order restricting $75 mn transfer 'infructuous'

The Service Tax Department as part of the original application is seeking recovery of over Rs 1,000 crore debt from Vijay Mallya and his subsidiary companies.

Once bitten, twice shy: After Mallya debacle, govt directs banks to sell guarantees if companies default
Business

Once bitten, twice shy: After Mallya debacle, govt directs banks to sell guarantees if companies default

In order to effectively deal with loan default cases similar to that of Vijay Mallya in the future, government on Friday directed public sector banks(PSBs) to immediately invoke personal guarantees of promoter directors and recover loans from them in case the companies fail to repay.

The King of 'seeking time': Vijay Mallya asks for delay in making personal appearance before ED
India

The King of 'seeking time': Vijay Mallya asks for delay in making personal appearance before ED

Liquor baron Vijay Mallya on Thursday sought time till April for making a personal appearance before the ED, virtually making it clear he would not present himself before the anti-money laundering agency pursuant to summons issued by it in the IDBI bank loan default case.

Vijay Mallya case: Six banks send probe reports to ED
Business

Vijay Mallya case: Six banks send probe reports to ED

ED has got probe reports from half-a-dozen banks in connection with its money laundering investigation in the IDBI bank loan default case