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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The fugitive businessman was appealing against an order given in a case involving more than £1 billion owed by his defunct airline to a consortium of Indian banks.
Fugitive Indian businessman Vijay Mallya on Wednesday lost an appeal against a bankruptcy order from London’s High Court, reports Reuters. The order was given as part of a long-standing legal battle where a consortium of Indian banks sought repayment of more than £1 billion (~Rs 11,062 crore as per current exchange rates) in debt owed by his now-defunct Kingfisher Airlines.
The group of banks, which includes the State Bank of India, in 2017 got a judgement in India worth £1 billion against Mallya, who was a guarantor for Kingfisher’s debts. This ruling was registered in the United Kingdom the …
The finance minister has stated that banks have recovered Rs 14,131 crore by selling Mallya’s assets. However, the businessman has a number of other hurdles to cross before he can come back to India.
Led by MD and CEO Hina Nagarajan, its whisky brands have outpaced many of French rival Pernod Ricard’s for the first time in several years.
The planned merger of the two low-cost carriers comes with red flags for the Tata group’s grand plans for its aviation business under Air India.
