Inside The Indian Government’s Battle Against The Former ‘King Of Good Times’

  • 📰 Forbes
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 21%
  • Publisher: 53%

India sells off assets of Vijay Mallya, once known for an enviable lifestyle of sports cars, luxury homes and a cricket team, to pay off his staggering debts. It still hopes to extradite the onetime billionaire.

United States Headlines News

United States Latest News, United States Headlines

,“Fugitives and economic offenders will be actively pursued; their properties attached and dues recovered.”

“Criminal proceedings in India against Vijay Mallya…would need to proceed on the presumption of innocence and sale or transfer of assets attached by law enforcement authorities would not be an imputation of guilt,” warned Sherbir Panag, a lawyer specializing in white collar crimes and a partner at Panag & Babu, a Delhi law firm.

Mallya’s troubles date back nearly a decade to 2012 when his loss-making Kingfisher Airlines shuttered and he ended up owing banks over $1 billion as well as unpaid wages to airline staff. The one-time, self-styled"King of Good Times," who inherited a cash-rich liquor empire at a young age, was known as much for his flamboyant lifestyle as his marketing savvy. His interests ranged from horse racing and breeding—he was said to own a stud farm close to Bangalore—to vintage cars and luxury yachts. He

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside The Garden Where Princess Diana’s Statue Will Be Unveiled TodayIt was Princess Di's favorite spot in Kensington Palace.
Source: Women's Health - 🏆 475. / 51 Read more »

Inside the Redesigned Kensington Palace Garden Where Princess Diana’s Statue Will Be UnveiledThe Sunken Garden has been refreshed ahead of Prince William and Prince Harry's event on July 1 to honor their late mother. They redesign garden and install statue? Really? Really? Where is MY statue in Rose Garden? First Lady is thankless job.
Source: harpersbazaarus - 🏆 467. / 52 Read more »

17 injured after an explosion inside a Los Angeles police bomb disposal truckAt least 17 people were injured in Los Angeles after an explosion occurred inside a police bomb squad disposal truck, officials said. ' This vessel should have been able to dispose of this material ', the Los Angeles Police Department Chief Michel Moore said at a press conference . ' Something happened in that containment vehicle that should not have happened and we do not know why ', the police chief said . KATIBA MPYA SIO LAZIMA
Source: cnnbrk - 🏆 393. / 55 Read more »

Inside The $10 Million Fortune Of Antony Blinken, Biden’s Secretary Of StateBetween roles in the Obama and Biden administrations, Antony Blinken cofounded a D.C. advisory business—and made a small fortune. Who the hell cares is a rag
Source: Forbes - 🏆 394. / 53 Read more »

Inside a millennial couple's $4,320/month Jersey City, NJ apartmentMolly Barth, 27, lives with her boyfriend Nick, 26, in a two-bedroom apartment in Jersey City, NJ. Together they pay $4,320 a month in rent. Molly works as a cultural strategist at a consulting agency and Nick works in real estate. Unlocked is a home tour series focused on how much people across the U.S. spend on their housing, what they get for the money and what they had to sacrifice to make it happen. MakeIt wow MakeIt Great post. Ground breaking stuff, $4,320 a month. Absolute insanity! MakeIt For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him RonelMoses32 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️
Source: CNBC - 🏆 12. / 72 Read more »

A 'gut decision': Inside Biden's defense of Afghanistan withdrawal amid warnings of country's collapseThe White House is united in the decision to withdraw troops from Afghanistan. But across the government, concerns are rising about deteriorating security in the country, the pace of withdrawal, and many unanswered questions about US' long-term strategy. Get out. Let whatever happens, happen. And let's not give a single fck.. Kagome Akane Tendo Princess Pride Both Girl Said American Force Withdrawal Afghanistan When white house's decision use blockchain StellarOrg for digital dollarhurry up man..XLMIsTheBest
Source: CNN - 🏆 4. / 95 Read more »