Latest news with #LondonHighCourt
Hindustan Times
4 days ago
- Business
- Hindustan Times
'Right talent': Vijay Mallya on how Kingfisher calendar girls Deepika, Katrina found fame
Businessman Vijay Mallya, the former Kingfisher Airlines chief who is facing multiple fraud charges in India, has lauded the now-defunct airline's annual calendar, saying it was a fantastic marketing tool. The annual Kingfisher calendar used to be shot at exotic locations, mainly featuring Indian models in swimsuits. In a four-hour-long podcast with YouTuber Raj Shamani, released on Thursday, the former Kingfisher Airlines chief was asked why the careers of many of the models, including popular Bollywood faces Deepika Padukone and Katrina Kaif, featured in the Kingfisher calendar took off. 'Because we chose the right girls,' Mallya said in response and went on to name Bollywood actors such as Deepika Padukone and Katrina Kaif, who once appeared in the annual calendar. Also Read | 'Call me a fugitive… but I am not a chor': Vijay Mallya addresses charges against him '…Whether it was Deepika Padukone, Katrina Kaif. We had all the heroines and the stars on the calendar at a younger age…We picked the right talent,' Mallya said. The former Kingfisher Airlines chief further described the calendar as a powerful branding initiative. 'I did it because it was a fantastic marketing tool. It did not bring anything to me personally. But it did wonders for the brand,' he added. Also Read | Vijay Mallya's big accusation against Pranab Mukherjee: 'I was told...' Kingfisher Airlines, launched with much fanfare in 2005, quickly gained a reputation for luxury service but struggled financially as economic conditions worsened. Mallya left India in 2016 and has since been residing in the United Kingdom. He is currently fighting extradition to India. On April 9 this year, he lost an appeal against a bankruptcy order issued by a London High Court in connection with a ₹11,101 crore debt to a consortium of Indian lenders, including the State Bank of India. Also Read | Vijay Mallya 'sets record straight' with rare message for employees who lost their jobs in Kingfisher crash Prior to that, in February, Mallya approached the Karnataka High Court, arguing through his legal counsel that banks have already recovered ₹14,000 crore - well above the ₹6,200 crore originally due. He requested the court to direct lenders to provide a detailed breakdown of the recovered amount.
News18
5 days ago
- Business
- News18
‘Call Me Fugitive, Not Chor': Vijay Mallya Apologises For Kingfisher Crash
Last Updated: Vijay Mallya has opened up about his reasons behind not returning to India in a podcast and also issued a public apology for the failure of his Kingfisher Airlines. Businessman Vijay Mallya, who is facing various fraud charges in India and is absconding, has denied allegations of theft while also issuing a rare public apology for the failure of Kingfisher Airlines. He also defended his 'valid" reasons for not returning to India and claimed that he would consider getting back if he is assured of a fair trial and 'dignified existence" in the country. 'I apologise to everyone for the failure of Kingfisher Airlines," Mallya said during a four-hour-long podcast with Raj Shamani, which was put online on Thursday. 'If I have assurance of a fair trial and a dignified existence in India, you may be right, but I don't," he said, when asked if his troubles got worse because he did not return to India. Vijay Mallya On Being Called Fugitive He also acknowledged that it was 'fair" to call him a fugitive but questioned the term 'thief" used for him in the political corridors. 'Call me a fugitive for not going to India post-March 2016. I didn't run away, I flew out of India on a prescheduled visit. Fair enough, I did not return for reasons that I consider are valid, so if you want to call me a fugitive, go ahead, but where is the 'chor' coming from? Where is the 'chori'?" he said. Mallya is facing charges of allegedly defaulting on loans worth over Rs 9,000 crore that were given to Kingfisher Airlines by a group of Indian banks. He has been residing in the United Kingdom since 2016, where he is facing extradition proceedings. On April 9 this year, in another blow to his legal battles, Mallya lost an appeal against a London High Court bankruptcy order in a case involving over Rs 11,101 crore owed to lenders, including the State Bank of India (SBI). The businessman has been locked in a long-running dispute with Indian banks since the collapse of his Kingfisher Airlines in 2012. Earlier in February 2025, Mallya approached the Karnataka High Court, seeking details about how much money banks had recovered from him. His legal team argued that while the original debt stood at Rs 6,200 crore, banks have already recovered Rs 14,000 crore—more than double the amount owed. They claimed that despite this, recovery actions were still continuing and requested the court to instruct banks to provide a detailed statement of recovered funds. India has been making efforts to extradite him from the UK for his alleged loan defaults and financial fraud. First Published: June 06, 2025, 07:46 IST
AU Financial Review
26-05-2025
- Business
- AU Financial Review
How to have a good divorce – when you have billions to bicker over
When British billionaire Frederick Barclay appeared in the London High Court in 2022, accused by his ex-wife of failing to pay out on their record £100 million divorce settlement, the judge couldn't say where the estimated £7 billion ($14.4 billion) family fortune was held. Despite an empire that included the Ritz hotel and Britain's Telegraph newspaper, the tycoon argued he could not access his wealth, which was tied up in various complex trust structures controlled by his nephews. 'I have no evidence that Sir Frederick has access to any material funds, despite the great wealth that [he and his twin brother] Sir David built up,' the judge concluded in 2023. He added that it was 'extraordinary that the former wife of one of the country's most successful businessmen' was in such a predicament.
Mint
23-05-2025
- Business
- Mint
Nirav Modi 10th bail plea rejected: ‘UK courts twice concluded that…'
Dismissing fugitive Nirav Modi's fresh bail plea, the London High Court judge said UK courts have "twice concluded that there is an evidenced prima facie case against the applicant." According to news agency ANI, the court further stated that Nirav Modi's risk of absconding is high. While rejecting Nirav Modi's bail plea on May 15, Justice Michael Fordham at the Royal Courts of Justice said, "And I repeat, after careful evaluation, UK courts have twice concluded that there is an evidenced prima facie case against the applicant." Nirav Modi, 54, had filed a bail application after his extradition to India was allowed by a UK Court earlier. Indian agencies opposed Nirav Modi's bail application before the London High Court. It was his 10th bail petition since his detention in the United Kingdom in 2019. Nirav Modi is the prime accused in the over ₹ 13,800-crore fraud at Punjab National Bank. He was declared a fugitive economic offender by India in December 2019. The ED registered the PMLA case against him and his uncle Mehul Choksi in 2018, with multiple assets seized during investigations. His attempts to block extradition have repeatedly failed, including a plea to the UK Supreme Court in December 2022. British authorities arrested Modi in March 2019, and the UK High Court has already approved his extradition to India. The UK High Court said that Nirav Modi is wanted for trial in India for matters of 'very great seriousness and substance' relating to allegations of economic crime, in which he is said to have been the principal perpetrator, ANI reported. The High Court noted that the allegation is that, as the lead perpetrator, Nirav Modi (acting in conjunction with others) fraudulently induced the PNB to issue documents which allowed money to be withdrawn from foreign banks. "The central points put forward on the applicant's behalf in the earlier extradition proceedings were, that there was a good and lawful explanation for the transfer of the monies to the relevant entities who received those monies; rather than any denial that the monies were in fact transferred," the court noted in the order of May 15. The amounts alleged to have been transferred, induced by the fraud, come to an aggregate amount of 1,015.35 million US dollars, Justice Fordham said. The courts, in the context of the applicant's extradition, have on two occasions assessed the underlying evidence being relied on against the bail applicant. On each occasion, the court has been satisfied that there is a "prima facie case", Fordham said. The court also considered the destruction of a mobile phone in 2018 and interference with witnesses. "Part of what is alleged is that he was criminally responsible for actions in which witnesses were interfered with and evidence was destroyed," the court noted. The Judge further noted, "Also said to have been destroyed was evidence on a computer server in Dubai in February 2018. All of that would have taken place at the time when the Applicant was here in the UK." Earlier this week, the Central Bureau of Investigation (CBI) issued a press release confirming the court's decision. The CBI said, "Fresh Bail Petition filed by Nirav Deepak Modi was rejected by the High Court of Justice, King's Bench Division, London." "The bail arguments were strongly opposed by the Crown Prosecution Service advocate who was ably assisted by a strong CBI team consisting of investigating and law officers who travelled to London for this purpose," the CBI said. The statement added: "Central Bureau of Investigation (CBI) could successfully defend the arguments which resulted in rejection of the bail." The statement added, "Nirav Deepak Modi is in UK prison since 19th March 2019. It may be recalled that Neerav Modi is a fugitive economic offender who is wanted for Trial in India in a Bank fraud case of CBI for defrauding Punjab National Bank for Rs. 6498.20 crore." The CBI further stated: "This is his 10th bail petition since his detention in UK which was successfully defended by CBI through Crown Prosecution Service, London." (With inputs from agencies)
NDTV
23-05-2025
- Business
- NDTV
What UK Judge Said On Denying Nirav Modi Bail For 10th Time
London: Dismissing the 10th bail plea of Nirav Modi after considering that the fugitive diamond trader would 'abscond' if released, the London High Court judge has said UK courts have "twice concluded that there is an evidenced prima facie case against the applicant." Stating that his risk of absconding is high, Justice Michael Fordham at the Royal Courts of Justice dismissed the bail plea. "And I repeat, after careful evaluation, UK courts have twice concluded that there is an evidenced prima facie case against the applicant," Justice Fordham said while rejecting Nirav Modi's bail plea on May 15. The 54-year-old fugitive has filed the bail application after his extradition to India was allowed by a UK Court earlier. His bail application was opposed by the Indian agencies before the High Court. It was his 10th bail petition since his detention in the United Kingdom in 2019. Nirav Modi, the prime accused in the over Rs 13,800 crore fraud at Punjab National Bank, was declared a fugitive economic offender by India in December 2019. The UK High Court said that Nirav Modi is wanted for trial in India for matters of 'very great seriousness and substance' relating to allegations of economic crime, in which he is said to have been the principal perpetrator. The High Court noted that the allegation is that, as the lead perpetrator, Nirav Modi (acting in conjunction with others) fraudulently induced the PNB to issue documents which allowed money to be withdrawn from foreign banks. The central points put forward on the applicant's behalf in the earlier extradition proceedings were, that there was a good and lawful explanation for the transfer of the monies to the relevant entities who received those monies; rather than any denial that the monies were in fact transferred, the court noted in the order of May 15. The amounts alleged to have been transferred, induced by the fraud, come to an aggregate amount of 1,015.35 million US dollars, Justice Fordham said. The Courts, in the context of the Applicant's extradition, have on two occasions assessed the underlying evidence being relied on against the bail applicant. On each occasion, the court has been satisfied that there is a "prima facie case", Fordham said. The court also considered the destruction of a mobile phone in 2018 and interference with witnesses. "Part of what is alleged is that he was criminally responsible for actions in which witnesses were interfered with and evidence was destroyed," the court noted. The judge further noted, "Also said to have been destroyed was evidence on a computer server in Dubai in February 2018. All of that would have taken place at the time when the applicant was here in the UK." Earlier this week, the Central Bureau of Investigation (CBI) also issued a press release confirming the court's decision. "Fresh Bail Petition filed by Nirav Deepak Modi was rejected by the High Court of Justice, King's Bench Division, London. The bail arguments were strongly opposed by the Crown Prosecution Service advocate who was ably assisted by a strong CBI team consisting of investigating and law officers who travelled to London for this purpose." The statement added: "Central Bureau of Investigation (CBI) could successfully defend the arguments which resulted in rejection of the bail. Nirav Deepak Modi is in UK prison since 19th March 2019. It may be recalled that Neerav Modi is a fugitive economic offender who is wanted for Trial in India in a Bank fraud case of CBI for defrauding Punjab National Bank for Rs. 6498.20 crore." The CBI further stated: "This is his 10th bail petition since his detention in UK which was successfully defended by CBI through Crown Prosecution Service, London." British authorities arrested Modi in March 2019, and the UK High Court has already approved his extradition to India. The ED registered the PMLA case against him and his uncle Mehul Choksi in 2018, with multiple assets seized during investigations. His attempts to block extradition have repeatedly failed, including a plea to the UK Supreme Court in December 2022.
