Articles by "Vijay Mallya"
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The Enforcement Directorate (ED) attached properties worth Rs 1,411 crore of business tycoon Vijay Mallya and his company United Breweries (Holding) Ltd on Saturday in connection with an alleged money laundering case against him. The agency has attached as part of probe into the alleged Rs 900 crore IDBI Bank loan default case.

“The provisional attachment includes bank balance of Rs 34 crore , one flat in Banguluru and Mumbai -- 2291 and 1300 sqft respectively each, Industrial plot in Chennai which is 4.5 acres, coffee plantation land in Coorg which is 28.75 acres, and residential and commercial constructed area in UB CITY and Kingfisher Tower in Banguluru  which is 840279 sqft,” said a senior ED officer

Following the criminal case registered by Central Bureau of Investigation on July 29, 2015 against Mallya  and Kingfisher Airlines Ltd and unknown officers of IDBI and others, ED registered a case of money laundering January 25, 2016 under Prevention of Money Laundering Act.

The officer said that during investigation under PMLA it was that loan amounting to Rs 864 crore was sanctioned to Kingfisher Airlines Ltd against collateral security of Kingfisher Brand, corporate guarantee of UBHL and personal guarantee of Vijay Mallya.
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The Hyderabad court on wednesday asked the GMR airport, Shamshabad to furnish the latest address of Vijay Mallya by 6th June to enable it to issue him indictment in a dud cheque case. The third special magistrate court expected to give judgment in the case on Wednesday, received a written reply from the Maharashtra Police that Mallya's residence in Mumbai was attached by the SBI and hence the indictment was returned with the reason: The said person is not available at this address. The judge then directed to GMR. The court trial was completed before three months but the judgment was postponed as Mallya had not been attending the court. Mallya is charged with renege airport user and the cheque issued by him was got bounced due to insufficient funds in the account. The company issued two cheques of INR 5 Million each towards part settlement of nearly INR 12 Crores dues. The GMR had filed a suit in the court under section 138 of the Negotiable Instrument (NI) Act, under which Mallya will be punishable for imprisonment extended up-to two years. 
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Look at our Banks they will not leave even a single rupee, they left Vijay Mallya. Read the following comparison between Mallya and Us.
  • A common man can’t withdraw more than INR 25,000 in a day from his bank account. He withdrew INR 215 Cr and left the country.
  • The minimum balance which we need to maintain is INR 0-10,000. But he can maintain a minimum balance of INR 1500 Cr.
  • We spends INR 1,000 for our birthdays. He burnt INR 90 Cr on his birthday party on a private island in Goa, and flew down Enrique.
  • We pay EMI on time by fearing phone calls and letters from the bank. He owes INR 7000 Cr to 17 Nationalised Banks and Bank does't know on which number he is available or where to send the damned letters.
  • Bank people will send reminders to us by call, sending mail and texting message. They will collect single rupee of debt from a common man by selling their house, properties etc and throw them to the roads. But in this Banks complained to High Court.
  • A common man have to rush to the bank for loan by follow all the formalities, then Banks will approve loan by taking mortgage of his property. But for him banks have not asked surety for granting loans.
  • Imagine if i owed the amount of money which he owed, I would have taken a bus or car to save whatever little i have left and escape my debtors. But he took a chartered jet and went to a private estate near London.
In this everybody in the country is busy by calling him as a huge failure. Our people are cracking bankruptcy jokes, poor man jokes, fat man jokes and absconder jokes on him. Just come out of it and think in reality that joke is actually on us. If you ask me, he is not a failure he makes other fail, this a new lesson in today's world. And our media has exposed him. No matter he is my 'hero'.
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The Karnataka High Court has issued notice to Vijay Mallya and others on a plea by the State Bank of India (SBI) seeking his arrest. Justice A S Bopanna issued notice to Mallya, his Kingfisher and United Breweries Holdings Ltd as well as British liquor major Diageo plc and its Indian arm, United Spirits Ltd. for their response and posted the case for hearing next week. The judge also made an observation that the Debt Recovery Tribunal, which is hearing the case, was free to pronounce order on the bank’s applications as it deemed fit.
SBI as a lead bank of the consortium of 17 state-run and private banks, which have a combined outstanding dues up to INR 7,800 crore from Kingfisher, headed by Mallya, moved the high court after the debt recovery tribunal here reserved order on its four interlocutory applications filed on Wednesday. We have approached the high court as the tribunal had not yet acted upon our applications, which included disclosure of Mallya’s assets in India and abroad and our claim on the INR 516 crore severance package Diageo and USL signed with him on February 25 here, the counsel said. The writ in the high court prayed for disclosure of properties of Mallya, his son Siddharth, and his relatives and restraining Diageo and USL from paying the deal amount to Mallya.
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Vijay Mallya resigned from his post as chairman of United Spirits on Thursday which is controlled by Diageo Plc. Diageo will pay Mallya INR 515 crore as part of the five year non-compete agreement. Recently he turned 60 and said i have decided to spend more time in England closer to my children. Diageo following allegations of irregularities on loans given to UB Group companies. His resignation comes at a time when two banks have declared him as a willful defaulter. He has been unable to pay dues to 17 banks amounting to INR 7,000 crore that was lent to Mallya's Kingfisher Airlines.

Here's how much he owes to Indian banks:
State Bank of India: Recovered only INR 155 crore out of INR 1,623 crore.
Punjab National Bank: INR 1,500 crore​
IDBI Bank: INR 800 crore
Bank of India: INR 650 crore
Central Bank of India: INR 410 crore
UCO Bank: INR 320 crore
Corporation Bank: INR 310 crore
State Bank of Mysore: INR 150 crore
Indian Overseas Bank: INR 140 crore
Federal Bank: INR 90 crore
Punjab & Sind Bank: INR 60 crore
Axis Bank: INR 50 crore
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