High Court in London grants access to around 1.1 million pounds from court-held funds to meet living expenses and legal costs to Embattled liquor tycoon Vijay Mallya

A bench of Justices U U Lalit and Ashok Bhushan posted the matter for further hearing on March 15, after Solicitor General Tushar Mehta sought some time to file report on the status of extradition of Mallya

Modi is the prime accused in a $2 billion bank fraud at Punjab National Bank (PNB). He has also been charged with intimidating witnesses and tampering with evidence

At a virtual hearing before Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs on Friday, both sides deposed retired Indian Supreme Court justices as expert witnesses on Indian law in support of their arguments for and against a bankruptcy order against Mallya in the UK

Deputy Insolvency and Companies Court Judge Robert Schaffer declined to allow a draw down from the court-held funds of an estimated amount of around 1.5 million pounds, accrued from the sale of Mallya's French luxury property Le Grand Jardin

Last month, India strongly underlined its interest in the liquor baron's expeditious extradition during talks between Foreign Secretary Harsh Vardhan Shringla and UK Home Secretary Priti Patel in London

The Centre had on October 5 told the apex court that Mallya cannot be extradited to India until a separate secret legal process in the United Kingdom, which is judicial and confidential in nature is resolved

SBI senior counsel Mukul Rohatgi, informed the apex court that Mallya is facing bankruptcy proceedings in the UK, besides extradition proceedings

Nirav Modi case: The third day of the five-day hearing, presided over by Justice Samuel Goozee, was devoted to the defence laying out further arguments against a prima facie case of fraud and money laundering against Modi

United Breweries Holdings Ltd. (UBHL), on Thursday, moved the Supreme Court against the Karnataka High Court's March 6 order that upheld the winding-up ruling passed in February 2018 as the company failed to pay admitted liabilities to its creditors

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

Upon arrival, Mallya will be produced before a court, where Central Bureau of Investigation and Enforcement Directorate will seek his custody

The latest decision, referred to as a \"pronouncement\", means that under the India-UK Extradition Treaty, the UK Home Office is now expected to formally certify the court order for Mallya to be extradited to India within 28 days

The consortium consortium of the Indian public sector banks led by State Bank of India seeks to recover nearly Rs 9,000 crore of unpaid loans from the embattled liquor baron Vijay Mallya

A bankruptcy order was sought against Vijay Mallya by a consortium of the Indian public sector banks led by State Bank of India (SBI).

Judge Briggs had reserved his judgment after hearing arguments from both sides in December last year over the loans to Mallya's now-defunct Kingfisher Airlines

I request the banks with folded hands, take 100 per cent of your principal back, immediately, he said outside the Royal Courts of Justice in London

A UK court last month had reserved its judgement on a plea by a consortium of Indian public sector banks led by State Bank of India (SBI), seeking a bankruptcy order against Mallya as part of efforts to recoup around 1.145 billion pounds in unpaid loans

Verdict in the case is now expected only in the New Year, when the judge could either dismiss the petition and find in favour of the 63-year-old businessman or adjourn the case until the UB Group chief's latest settlement offer is decided upon by the Indian courts

In his latest offer, Vijay Mallya quoted finance minister Nirmala Sitharaman's Lok Sabha statement from last week that business failures should not be tabooed