SBI-led consortium files counter to UBHL's Rs 594 cr compensation claim

April 14, 2016

Bengaluru, Apr 14: A consortium of banks led by State Bank of India today filed counter objections against Vijay Mallya-controlled UBHLs claim of Rs 594 crore from them for compensating the losses incurred by it due to the sale of USL equity shares by lenders at cheaper rate.

mallyaThe UBHL, in its objections filed in the Debt Recovery Tribunal here on April 5, had contended that the lenders had sold 26 lakh equity shares of United Spirits Limited (USL) pledged to them before maturity.

The company, in its objections, also contended the lenders action of selling the equity shares for Rs 1,836.94 per share, instead of a good price, when the shares hit a high of Rs 4,080 per share in April last year, causing losses to it.

Countering UBHL's claims, the bankers sought DRT direction to ask UBHL to substantiate their claim of Rs 594 crore loss with documents of proof and evidence.

The bankers also alleged that the Rs 594-crore claim at this point of time is a clear-cut tactics of UBHL to delay the process of justice, knowing fully well that the case is on the verge of disposal.

The bankers also filed two memos for extension of March 7 DRT order, barring Mallya from withdrawing $75 million exit payout by it under a Diageo Plc and USL sweetheart deal till the disposal of SBI's case against him over loan default.

They also filed an application seeking attachment of the sale proceedings of Mallya's private aircraft parked at Mumbai airport by the Service Tax Department, which is going to be auctioned by it on 12 & 13th May to recover their dues estimated to be nearly Rs 535 crore.

Last month, the department had claimed in a petition to the Bombay High Court that Mallya's total disputed liability in respect of service tax was to the tune of Rs 535 crore.

It was also claimed that Mallya had collected a large sum of money as service tax from flyers of the now-grounded Kingfisher Airlines on behalf of the government, but the same was not deposited in the government treasury.

Mallya, whose now-defunct group company Kingfisher Airlines owes over Rs 9,000 crore to 17 banks, had left the country on 2 March and is believed to be in the UK.

The DRT Presiding Officer C R Benakanahalli posted the matter for next hearing to 21 April.

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News Network
February 4,2020

Feb 4: Amid the agitations against Citizenship Amendment Act, National register of Citizens and National Population Registration across the country, Prime Minister Narendra Modi on Monday said that there is a "political design" behind all these protests including in Delhi's Jamia and Shaheen Bagh to ruin the harmony of the nation.

"Be it Seelampur, Jamia or Shaheen Bagh, protests held over the past several days regarding the Citizenship Amendment Bill. Is this just a coincidence? No. This is an experiment," said Prime Minister Narendra Modi in his first election rally for Delhi polls at Karkardooma.

"There is a political design behind all these protests including Jamia and Shaheen Bagh. These protests are a conspiracy to divide India. These protests are going to ruin the harmony of the nation," he asserted.

Lambasting the opposition parties including Congress and Aam Aadmi Party for supporting the ongoing protests, he said: "But AAP and Congress are provoking people. Constitution and tricolor are being kept in front and attention is being diverted from the real conspiracy."

"These people were doubting the ability of our forces during surgical strikes. Do citizens of Delhi want such people in power? These people are saving those who want to break India into pieces," he added.

People have been protesting at Jamia and Shaheen Bagh against CAA, NRC and NPR. Members of the Opposition have deemed CAA "discriminatory and anti-Constitution" while the Centre has maintained that the new law has no effect on Indian citizens.

Recently, two firing incidents took place near Jamia Millia Islamia University.On Sunday night, the firing incident was reported near gate number five at the university following which people including some students of the varsity gathered outside the Jamia Nagar police station. They returned from the Jamia Nagar police station after their complaint was registered.

Earlier, a student sustained injuries after a young man fired at the protestors near Jamia.

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abdullah
 - 
Tuesday, 4 Feb 2020

Once again incorrect statement and only to divert people attention.  Every one knows who is ruining image of our nation.   this govt has completely failed in all aspects and trying to survive by misguiding the citizens.  Economy is reaching zero and GDP is coming down day by day, Banks and industries on getting closed. youths are unemployed due to no chance.   However, Govt is giving false statement that nothing to worry and our economy if growing.   this govt has brought black bills of CAA and MPR only to divide the society and keep them engaged and forget the falling economy.   If this situation continues, our nation will be one of the poorest countries in the world.   This govt is trying to sell all Govt hold units like Railway, Insurance, etc to private companies only to help the industrialists and to get commission from them.    LIC was running in profit till 4 to 5 years back, but now its running in loss.   Huge amount of money from LIC is taken by Govt to hide the downfall of economy.   Only God can save our country from the hands of present looters + decoits.  

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News Network
July 11,2020

Kanpur, Jul 11: "The Uttar Pradesh administration has done the right thing by taking action against my son," said an old and feeble Ram Kumar Dubey, father of gangster Vikas Dubey.

The father said his son killed eight police officials and it was an unforgivable sin.

"Had he listened to us, his life would not have ended this way. Vikas never helped us in any way. Due to him, even our ancestral property was razed to the ground. He also killed eight policemen, which is an unforgivable sin. The administration has done the right thing. Had they not done so, tomorrow others would have acted similarly," Ram Kumar said.

"It is the chief minister's duty to protect every individual. The police is an extension of that. He attacked them which cannot be forgiven. I will not even take part in his cremation," he added.

Ram Kumar Dubey said that his only appeal to the government is to allow him entry to his ancestral property now.

Vikas Dubey was cremated at Bhairav Ghat in Kanpur. His wife, younger son and brother-in-law were present and no other member of his family attended the last rites.

Vikas Dubey was arrested by the police in Ujjain on Thursday morning. He was on the run for the last six days and had come to the city to offer prayers at a temple, where he was identified by a security guard.

He was killed in an encounter by the Uttar Pradesh Police earlier today after he "attempted to flee".

The gangster was the main accused in the encounter that took place in Bikru village in Chaubeypur area of Kanpur last week, in which a group of assailants opened fire on a police team, which had gone to arrest him.

Eight police personnel were killed in the encounter.

Vikas Dubey managed to escape after the incident. Uttar Pradesh police had launched a hunt and raised a bounty on him for Rs 5 lakh.

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News Network
January 27,2020

Thiruvananthapuram, Jan 27: Kerala Chief Minister Pinarayi Vijayan on Monday urged Prime Minister Narendra Modi to arrange for airlifting the Indians stranded in Wuhan province of China, the epicentre of coronavirus, saying the ground situation there has further worsened.

In a letter to Mr. Modi, he said since the situation in Wuhan was grave, it would be appropriate to operate a special flight to Wuhan or a nearby functional airport and airlift Indian nationals stranded there.

Mr. Vijayan also wanted the Prime Minister to give necessary instructions to the Indian Embassy in China to act pro-actively and provide necessary assistance and reassurance to Indians, including Keralites, stranded in Wuhan and Yichang.

The Chief Minister offered assistance of medical professionals from the State in case of evacuation of the Indians from Wuhan.

Chinese health authorities have announced the death toll due to coronavirus has sharply increased to 80 with 2,744 confirmed cases.

The confirmed cases of pneumonia caused by the novel coronavirus officially described as 2019-nCoV included 461 patients who are in critical condition.

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