It's better to be a multi-billionaire politician than displaying wealth: Vijay Mallya

October 27, 2012

Vijay_mallya

New Delhi, October 27: Liquor baron Vijay Mallya on Saturday said he has learnt the hard way that wealth should not be displayed in India, and that it is better to be a multi-billionaire politician in the country. "I have learnt the hard way that in India wealth should not be displayed. (It is) Better to be a multi-billionaire politician dressed in Khadi," Mallya tweeted amid a long-continuing crisis at his UB Group's Kingfisher Airlines and his exit from the league of Indian billionaires.

On Friday, Mallya had posted on Twitter that he was thankful to 'the Almighty' for losing his billionaire status, and hoped it would lead to "less jealousy, less frenzy and (less of) wrongful attacks" on him. Often referred to as 'King of Good Times', Mallya has slipped out of the billionaire league in the Forbes rich list, as "bad times" in his aviation business have dragged down his networth to below the $ 1 billion mark.

According to the business magazine's latest list of 100 richest people in India that was published yesterday, Mallya is now ranked 73rd with a fortune of $ 800 million (about Rs 4,285 crore) -- a sharp plunge from 49th place last year with a fortune of $ 1.1 billion. Cash-strapped Kingfisher Airlines, part of Mallya-led UB Group, is going through turbulent times for several months now and had to halt operations earlier this month.

"King of good times is having nothing but bad times lately. His (Mallya's) Kingfisher Airlines, weighed down by what is believed to be $ 2 billion in debt, had its licence suspended in mid-October..." Forbes had said. Mallya is attending Formula One race at Greater Noida near the national capital, where a team part-owned by him, Sahara Force India, is participating.

The UB Group Chairman further tweeted that the qualifying prospects of Sahara Force India is secondary and the focus of even sports journalists was on Kingfisher only. Speaking to reporters on the sidelines of Formula One venue, Mallya said: "We are here to enjoy Formula One, so let's enjoy it. But I have always been available and whatever settlement has been reached (between the airline management and the employees) it's because of my participation".

The employees of the airline, who were on strike since September 29, agreed to resume work on the management's promise to clear three months dues before Diwali. During the entire impasse, agitating employees had demanded his presence and even threatened to stage protest at the venue of Formula One race. "If they wanted to say something to me they could have come to my house. What is the point of coming here? There is no question of any disturbance or protest," Mallya said.

Also read: Mallya thanks 'Almighty' for losing billionaire tag, hopes it will lead to 'less jealousy'


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News Network
May 7,2020

New Delhi, May 7: Air India has opened bookings for eligible foreign nationals and valid visa holders of the UK, the USA and Singapore for outbound repatriation flights that will be operated between May 7 and May 14 under the Vande Bharat mission, officials said.

Foreign nationals or valid visa holders will be charged the same fare as Indian nationals who want a seat on the inbound repatriation flights, they said.

For all flights between India and the USA under the Vande Bharat mission, Air India is charging a fixed fare of Rs 1 lakh per passenger.

For flights between India and Singapore, the charge is Rs 18,000-20,000 per passenger, and it is Rs 50,000 per person for India-UK flights.

On Tuesday, the Ministry of Home Affairs had clarified that a person who has an Overseas Indian Citizenship (OCI) card, or citizenship of a foreign country, or a valid visa of more than one year of that country, or the green card of that country can travel on repatriation flights leaving India under the Vande Bharat mission.

Air India will be conducting 64 flights to 12 countries between May 7 and May 13 to bring back approximately 15,000 Indians stranded due to the coronavirus-induced lockdown, Civil Aviation Minister Hardeep Singh Puri had announced on Tuesday.

However, some flights have been delayed and therefore, this set of 64 flights will be operated between May 7 and May 14, the airline officials said.

On Wednesday, an Indian businessman and his cook landed at Delhi airport from Lusaka in Zambia in a plane that was supposed to come without any passengers, senior government officials said.

The private chartered aircraft was scheduled to come empty and take around 40 Zambian nationals to Lusaka in a repatriation flight, they added.

"We had not permitted any incoming passengers. We will seek explanation from the airline (private operator) as to how it happened. BOI (Bureau of Immigration) has a very stringent protocol for dealing with such deviations, which must have been acted upon," said a senior official of aviation regulator DGCA.

It is not clear if the businessman and his cook were deported or sent to a quarantine facility within India.

India has been under a lockdown since March 25 to curb the spread of the novel coronavirus. All scheduled commercial passenger flights have been suspended during the lockdown.

However, cargo flights, medical evacuation flights and special flights permitted by Directorate General of Civil Aviation (DGCA) have been allowed to operate during this time.

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News Network
March 5,2020

New Delhi, Mar 5: Union Health Minister Harsh Vardhan assuring that the government has the coronavirus crisis under control, is like the Titanic captain telling passengers not to panic as his ship was unsinkable, Congress leader Rahul Gandhi said on Thursday.

Gandhi's remarks came after Vardhan's assurance in Parliament that the government is taking all necessary measures to prevent the spread of COVID-19 (coronavirus disease) in India.

“The health minister saying that the Indian government has the coronavirus crisis under control, is like the Captain of the Titanic telling passengers not to panic as his ship was unsinkable,” Gandhi said in a tweet.

“It's time the government made public an action plan backed by solid resources to tackle this crisis,” he said.

RMS Titanic was a British passenger liner that sank in the North Atlantic Ocean in the early morning hours of April 15, 1912, after striking an iceberg during her maiden voyage from Southampton to New York.

Gandhi has been raising concerns over the coronavirus infection since long. In a February 12 tweet, he had said coronavirus is an extremely serious threat to “our people and our economy”.

“My sense is the government is not taking this threat seriously. Timely action is critical,” he had said.

Earlier this week, Gandhi had hit out at Prime Minister Narendra Modi over the detection of fresh coronavirus cases in the country, saying he should quit wasting India's time “playing the clown” with his social media accounts when India is facing an emergency.

With the message of “Here's how it's done”, Gandhi had also tweeted a video of Singaporean Prime Minister Lee Hsien Loong addressing Singaporeans on how to deal with the coronavirus.

The number of coronavirus cases in India is 29, including 16 Italians, the government had said on Wednesday, adding all international passengers will now be screened at airports, amid growing concern over the spread of the respiratory infection.

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Agencies
January 11,2020

Those owning a single house in joint names would continue to file their income tax returns (ITRs) in much simpler ITR-1 (Sahaj) and ITR-4 forms (Sugam) for assessment year 2020-21 with the government issuing a clarification in this regard.

The clarification has come days after the government modified the eligibility for filing the returns in ITR-1 and ITR-4, stating that those owning a property jointly, spending Rs 2 lakh on foreign travel and paying electricity bill of Rs 1 lakh in a year would not be able to file returns in the simpler forms.

They would have to file their returns with much more detailed information in other specified forms.

Following the changes in the eligibility for filing returns in the two forms, concerns were raised over it with taxpayers claiming that it will cause huge hardship for them.

"The matter has been examined and it has been decided to allow a person, who jointly owns a single house property, to file his/her return of income in ITR-1 or ITR-4 Form, as may be applicable, if he/she meets the other conditions," a Finance Ministry statement said.

"It has also been decided to allow a person, who is required to file return due to fulfilment of one or more conditions specified in the seventh proviso to section 139(1) of the Act, to file his/her return in ITR-1 Form," it added.

Tax practitioners welcomed the government’s move of going back to the previous position.

"This is a welcome clarification allowing middle class taxpayers owning a single house property to file simpler ITR forms, 1 and 4, and not the detailed ITR forms even if they own house property in joint names," said Shailesh Kumar, Director, Nangia Andersen Consulting.

It may be noted that taxpayers holding multiple house properties would have to file more detailed return forms.

In the major changes notified earlier this month by the Income-Tax department, individual taxpayers were disallowed to file return either in ITR-1 or ITR 4 if he or she was a joint-owner in house property.

In another change, those who deposited more than Rs 1 crore in bank account or spent Rs 2 lakh on foreign travel or paid Rs 1 lakh on electricity bill in a financial year were also barred from using the easy-to-fill return forms.

"By today's clarification, the government has maintained status quo. Now, the taxpayers can continue filing their returns in the same fashion in which they did last year," said Naveen Wadhwa, Deputy General Manager (DGM), Taxmann.

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