India Business News: MUMBAI: In two separate orders, the special Prevention of Money Laundering Act (PMLA) court has allowed the plea of the SBI-led consortium of banks to.
Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines.
India News: Justice Miles, in the Chancery Appeals division of the London high court, dismissed on Wednesday the 65-year-old’s appeal against a lower court decisi
LONDON: Indebted tycoon Vijay Mallya has made an application for £758,000 (Rs 7.8 crore) from the court funds office in London to pay his lawyers in India, saying he is unable to pay them himself owing to his assets being frozen whilst the bankruptcy proceedings against him are ongoing.
The application was made as an appeal in the Chancery Appeals division of the high court on Tuesday against a judgment by deputy ICC judge Barnett in February this year in which Barnett allowed his historic and future legal fees for defending his bankruptcy petition and his £22,500 (Rs 23 lakh) monthly living expenses to come from the court funds office, but excluded payment for his lawyers in India.
The Disaster Control Cell at SWR Headquarters has been activated and an interdisciplinary team of Officers from various departments is manning the cell while monitoring the evolving situation closely on a 24x7 basis.