Kingfisher Airlines

A senior IDBI Bank official allegedly conspired with businessman Vijay Mallya for sanction and disbursement of loan to the latter's Kingfisher Airlines, the Central Bureau of Investigation said in its supplementary chargesheet filed in a Mumbai court. Mallya is an accused in the alleged Rs 900-crore IDBI Bank-Kingfisher Airlines loan fraud case, which is being probed by the CBI. The Central agency had recently filed a supplementary chargesheet before a special CBI court here. As per the chargesheet, former IDBI Bank general manager Buddhadev Dasgupta abused his position, conspired with colleagues and Mallya in the matter of sanction and disbursement of short term loan (STL) of Rs 150 crore to Kingfisher Airlines in October 2009. Along with 11 accused named in the earlier chargesheets, the CBI has added the name of Dasgupta in the supplementary chargesheet filed recently. As per the CBI, the STL was requested for six months to meet certain critical obligations to overseas vendors,

Beleaguered businessman Vijay Mallya bought properties worth Rs 330 crore in England and France during 2015-16 even as his Kingfisher Airlines was facing a cash crunch at that time and banks had not recovered the loans defaulted by the liquor baron, the CBI has claimed in its supplementary chargesheet filed in a court here. Mallya is an accused in the alleged over Rs 900 crore IDBI Bank-Kingfisher Airlines loan fraud case being probed by the Central Bureau of Investigation (CBI). The central agency recently filed a supplementary chargesheet before a special CBI court here. Along with all the 11 accused named in the earlier chargesheets, the probe agency has added the name of Buddhadev Dasgupta, former general manager of IDBI Bank in its latest supplementary chargesheet. The probe agency alleged that by abusing his official position, Dasgupta conspired with the officers of IDBI Bank and Vijay Mallya in the matter of sanction and disbursement of the short-term loan (STL) of Rs 150 .

The Nepalese passenger plane, which crashed into a river gorge on Sunday with 72 people onboard, was previously used by the now-defunct Kingfisher Airlines owned by liquor baron Vijay Mallya, according to Cirium Fleets data. Yeti Airlines' 9N-ANC ATR-72 aircraft took off from Kathmandu's Tribhuvan International Airport at 10:33 am on Sunday and crashed on the bank of the Seti River between the old airport and the new airport in Pokhara, minutes before landing, according to the Civil Aviation Authority of Nepal. At least 68 people, including five Indians, were feared dead, officials said, in Nepal's worst aviation tragedies in over three decades. According to Cirium Fleets data, which tracks aircraft fleet, equipment and its cost, the 9N-ANC aircraft was delivered to the now-defunct Kingfisher Airlines in 2007. Six years later, it was bought by Thailand's Nok Air, before it was sold to Nepal's Yeti Airlines in 2019, it said. Cirium Fleets data noted that the aircraft was managed by

Throws out the appeals of the beer makers, who were accused of cartelisation in the sale and supply of the beverage in various states and UTs

Beyond the case, the decision also has demonstrative effect for sternly dealing with other big-ticket defaults, two senior officials with large banks said in a first-cut assessment.

The Supreme Court has awarded a four-month sentence to the grounded airline's flamboyant owner Vijay Mallya in a contempt case

The UB Group chair is accused in a bank loan default case estimated at over Rs 9,000 crore involving his now-defunct Kingfisher Airlines.

Mallya, who is in the United Kingdom since March 2016, was found guilty of contempt of court for transferring $40 million to his children, in a case filed by the State Bank of India

The Supreme Court in February granted the last opportunity of two weeks to Mallya to personally present or through counsel in the contempt case against him

It even permitted the counsel, who was earlier representing Mallya, to file written submissions, if any, in the case by Tuesday

With reports of IDBI Bank fully recovering its dues from now-defunct Kingfisher Airlines, fugitive businessman Vijay Mallya on Thursday mocked banks for saying he still owed them money.

About 40% of the money lost by banks in the PNB scam and the fraud linked to Vijay Mallya's defunct Kingfisher Airlines has been realised by way of sale of shares seized under PMLA, the ED said

Book review of The Gated Republic: India's Public Policy Failures and Private Solutions

The leave to appeal to the Supreme Court is on a point of law of general public importance, which according to experts is a very high threshold that is not often met

Mallya sought government help and said, "we are not sending employees home and paying the idle cost. Government has to help."

Mallya, who relocated to London in 2017, controlled Kingfisher Beer in India, where he is still a substantial shareholder

A bench of Justices Nariman and S Ravindra Bhat observed that Mallya has not deposited a single penny to the banks so far.

IDBI Bank has informed and cautioned the public through the notice that "no person shall deal with any of the properties of the borrower/guarantor as huge dues are to be recovered from them".

A test will not ensure accountability of independent directors

Why banks continued to give money to Kingfisher Airlines is still shrouded in mystery; too many questions remain unanswered