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.
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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.