Search results
Results from the WOW.Com Content Network
Kingfisher Airlines, established in 2005, was a major business venture launched by Mallya. [29] It eventually became insolvent and had to be closed down. [ 30 ] [ 31 ] As of October 2013, it had not paid salaries to its employees for 15 months, had lost its licence to operate as an airline, and owed more than US$1 billion in bank loans. [ 26 ]
Until December 2011, Kingfisher Airlines had the second largest share in India's domestic air travel market. However, the airline ran into continuous losses since its inception, ran high debts and finally closed its operations on 20 October 2012. [6] Its chairman Vijay Mallya subsequently fled to London to allegedly hide from creditors. [7]
Vijay Mallya, the ex-chairman of Kingfisher and UB On 3 March 2012, The CBDT of India froze many more Kingfisher accounts as it was unable to pay all the dues as per schedule. Kingfisher was meant to pay ₹ 10 million (US$120,000) per working day.
The conglomerate was headed by Vijay Mallya, who left India on 2 March 2016, allegedly to escape legal action by Indian banks to whom he owed an estimated ₹9,000 crore (US$1.1 billion) in loans. In June 2021, Heineken N.V. bought out Mallya's 15% stake in United Breweries Limited for ₹5,825 crores (US$730 million) from the Debt Recovery ...
This year, I introduced a weekly series called "CEO Gaffe of the Week." Having come across more than a handful of questionable executive decisions last year when compiling my list of the worst ...
Bad Boy Billionaires: India is a 2020 Indian Netflix original documentary anthology television series which focuses on the lives of four prominent business magnates of India, including Vijay Mallya, Nirav Modi, Subrata Roy and Ramalinga Raju, who achieved predominant success in their businesses during their lifetime before being accused of corruption.
Kingfisher is an Indian beer brewed by United Breweries Group, Bangalore, India. The brand was first introduced in 1857 and then relaunched in 1978 by Vijay Mallya . With a market share of over 36% in India, it is also available in 52 other countries as of 2013.
Kingfisher, a brand owned by Vijay Mallya, was the primary sponsor. Other sponsors for 2008 included ICICI Bank, Medion, Kanyan Capital, Reebok and Reliance Industries Limited. [94] The above sponsors, except ICICI Bank and Kanyan Capital, continued to sponsor the team in 2009.