In yet another blow to 'wilful defaulter' Vijay Mallya, Debt Recovery Tribunal on Thursday ordered the SBI-led consortium of banks to start the process of recovering over Rs 6,203 crore, at 11.5 per cent annual interest rate, from the embattled tycoon and his companies in the Kingfisher Airlines case.

The Central Board of Direct Taxes, the policy-making body of the I-T department, has also asked the taxman to bolster their Air Intelligence Units (AIUs) at major airports in these poll-bound states to check movement of cash and other suspect items. 

2015 was a year of bans. From beef to pornography, the Indian authorities' proficiency to ban had drawn criticism from different sections. And 2016 was no different.

At 1320 hours, the United Breweries stock was trading almost 1 per cent lower at Rs 821 level on the BSE.  The stock opened at Rs 845 level and touched an intra dauy low of Rs 815.60 on the BSE post the Supreme Court order.

A three-judge bench headed by Chief Justice T S Thakur also directed that all signages indicating presence of liquor vends will be prohibited on national and state highways.

Concerned over 1.5 lakh fatalities every year in road mishaps, the Supreme Court on Wednesday said it may direct closure of liquor vend on national and state highways across the nation, besides removal of the signages indicating their location.

Gambling card games are often played in both villages and cities around Diwali, as it is generally considered auspicious to gamble during the festival.

Two days after the Patna High Court quashed its order on prohibition, Bihar government on Gandhi Jayanti today came out with a new law banning liquor with more harsh provisions like arrest of all adults in the event of recovery of the contraband in their house.

The headline indices were trading in a range tracking positive trend seen in Asian markets after an OPEC agreement to limit crude output fueled a rally in oil and more than offset nervousness about a tight race for the US presidency.

Asian markets rallied after OPEC members agreed to curb output in a surprise deal, though investors were wary of chasing markets higher as the US presidential election nears.

The 17-bank consortium, led by State Bank of India, had in March tried to sell this flagship property in Mumbai of the liquor baron Vijay Mallya in a bid to recover part of the dues.

Diageo, the world's largest spirits maker which acquired control of United Spirits (USL) in 2012, had issued a guarantee to SCB for a $135 million (around Rs 877 crore) loan to Watso.

National Highways Authority of India (NHAI) has asked the states to ensure removal of liquor shops from highways to minimise accidents caused due to drunken driving.

Mallya serves as Chairman of the board of directors of this US-based brewery firm, which has an exclusive licence to brew and distribute Kingfisher Premium Lager in various countries.

The capital markets watchdog may also seek information from other regulators in India and abroad, as also from the stock exchanges, as it seeks to de-clog the complex transactions Mallya had entered into, including for sale of stake and transfer of rights in his various group companies.

The liquor baron Vijay Mallya said he will continue to cooperate with investigative agencies related to the loans provided by banks to long-defunct Kingfisher Airlines.

The exit of Vijay Mallya has finally given Diageo true control over United Spirits, at a much higher cost than originally estimated.

Two main reasons for accumulated losses are \"diminution in the value of long-term investments in subsidiaries and loans and advances to subsidiaries due to low capacity utilisation and negative margins.

Shares of brewing firms such as United Breweries and United Spirits slipped up to 3 per cent after Supreme Court upheld Kerala High Court's liquor ban order.

United Breweries said that the private sector lender has invoked a total of 79.81 lakh shares worth Rs 778 crore. These shares were pledged by McDowell Holdings.