SBI in talks with SBI Caps to sell shares via block deals
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines
It is likely that the reference is to an asylum route which, according to legal experts, would depend upon whether Mallya applied for asylum prior to the extradition request or after
Mallya has been denied access by a UK court to a significant chunk of his cash held by the UK court funds office as part of bankruptcy proceedings against him launched by a consortium of Indian banks
The Centre had on October 5 told the apex court that Mallya cannot be extradited to India until a separate "secret" legal process in the UK, which is "judicial and confidential in nature is resolved"
The video, with a voice-over confirming that it was shot without any artificial light sources, gave a tour of the jail and specifically Barrack 12
A bench comprising justices U U Lalit and Ashok Bhushan reserved its order after hearing arguments in the case
His lawyers told the British High Court this week that he had been the victim of the airline industry's misfortunes and had no fraudulent intentions behind seeking loans for his now-defunct airline.
Why banks continued to give money to Kingfisher Airlines is still shrouded in mystery; too many questions remain unanswered
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The appeal hearing has been listed on 11 February 2020 with a time estimate of three days, a UK High Court official said.
The 63-year-old former Kingfisher Airlines boss said he was feeling "positive" as he entered the Royal Courts of Justice, where Justices George Leggatt and Andrew Popplewell began hearing the argument
Mallya, meanwhile, remains on bail after his extradition was recently ordered by Westminster Magistrates' Court in London, an order which now awaits a sign-off by UK home secretary Sajid Javid
Kingfisher was a fab airline that faced the highest ever crude prices of $140/barrel, said Mallya
The ED, officials said, had found that a maze of shell or dummy firms were used to allegedly siphon off these funds and this is expected to be stated in the upcoming charge sheet.
During the hearing, the judge initially seemed reluctant to allow another hearing, being requested by Vijay Mallya's defence team
The court has ordered registering of a "special criminal case" against the 19 entities
The ED, on January 4, is likely to press for declaring Mallya a PO since the court has already given him the last opportunity to appear in the case
This was a part of the $75 mn deal for his exit from United Spirits Ltd
Crown Prosecution Service will argue the case in the court on behalf of the Indian government