Debt Recovery Tribunal
Debt Recovery Tribunal News
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
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
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
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.
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
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
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
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
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, 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
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
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
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.
The fresh order today in favour of the lending cosortium will allow them to initiate the recovery proceedings and confiscate his properties
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.
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
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.
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.
ED has got probe reports from half-a-dozen banks in connection with its money laundering investigation in the IDBI bank loan default case