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RBI imposes Rs 50 lakh fine on PNB for delay in reporting fraud in Kingfisher Airlines account

"RBI observed from the fraud monitoring report-1 submitted by Punjab National Bank on July, 10 2018 that the bank had delayed the reporting of fraud in the account of Kingfisher Airlines Limited," PNB said in a regulatory filing.

Bombay HC dismisses Vijay Mallya's plea seeking protection from sale of assets

Earlier this year, Vijay Mallya had told the Bombay High Court that by declaring him a fugitive economic offender and allowing attachment of his assets, a special court had awarded him an “economic death penalty”.

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Vijay Mallya accuses CBI of witch-hunt after winning right to appeal extradition order

Mallya also repeated his offer of a 100 per cent payback to state-owned Indian banks to cover the debt of Kingfisher Airlines. "Please take the money. With the balance, I also want to pay employees and other creditors and move on in life," he said.

Explained: The rise and fall of private airlines

The suspension of operations at Jet Airways — at one time India’s largest private airline — announced Wednesday, follows the troubles at Kingfisher, Air Deccan, and Sahara. A short history of hope and distress in a highly competitive market over the last 30 years.

Vijay Mallya's extradition: What happens next?

The decision will now be channelled to the United Kingdom Home Office (the British equivalent of Home Ministry) where Home Secretary Sajid Javid, will pass an order based on that verdict of the Magistrates' Court. 

Get Mallya back

But don’t let l’affaire Mallya pave the way for return of unfair motif of businessman-as-villain, taint enterprise itself.

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Before Vijay Mallya left India, his trail, as per SFIO probe report

The SBI notice of August 19 alleged diversion of funds by Kingfisher Airlines to UB Group of companies and other firms. Mallya challenged the decision of UBI and SBI in various courts.

Banks hope to recover maximum after UK court order on Mallya: SBI Managing Director

SBI Managing Director Arijit Basu said the Indian banks have already recovered a total of Rs 963 crore through sale of Mallya’s domestic assets, and the UK Court’s order would further empower them to recover loans not repaid by Kingfisher Airlines.

Vijay Mallya had many years to repay his debts: M J Akbar

"If Mallya wanted to pay to the banks, I think he had...many, many years in which he could have done so," Akbar said during a press conference.

Vijay Mallya diverted loan funds, didn’t reveal full assets: Enforcement Directorate

The agency has said that Vijay Mallya showed his total assets as Rs 1,395 crore, whereas the ED estimated his total assets at Rs 3,164.65 crore as on 2010.

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Fugitive businessman Vijay Mallya owes India Rs 9,000-crore: News in numbers

Fugitive liquor baron Vijay Mallya, who has been in the UK for two years now, is accused of fraud and money laundering worth Rs 9,000 crore. Find more in today's news in numbers.

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