Vijay Mallya assets: UBL shares worth Rs 100 crore transferred to Centre

Agencies
September 18, 2017

New Delhi, Sept 18: In a trouble for Vijay Mallya, Stock Holding Corporation of India Ltd (SHCIL) has transferred the title and rights of shares worth Rs 100 crore of United Breweries Ltd (UBL), held directly and indirectly by the beleaguered businessman, to the centre.

This is part of the process of confiscating the assets of Vijay Mallya and the Enforcement Directorate has been looking into it, according to media report.

Earlier, the ED had written to SHCIL asking it to transfer the title and rights of un-pledged shares of UBL, United Spirits Ltd (USL) and McDowell Holdings Ltd worth close to Rs 4,000 crore, held by Mallya and his associate firms, under section 9 of the PMLA. Prior to that, in September, 2016, the ED had provisionally attached these shares in connection with the loan default of over Rs 6,000 crore by Kingfisher Airlines. Subsequently, the provisional attachment was confirmed by the adjudicating authority of the agency.

On August, United Breweries Ltd (UBL) had said its Chairman Vijay Mallya has ceased to be director of the company following market regulator Sebi’s order against him.

On January 25 this year Sebi had restrained Mallya from holding position as director or key managerial personnel of any listed company which has not been vacated till date, UBL said in a regulatory filing. “The board at its meeting held today has authorised filing of requisite forms/intimations with the Registrar of Companies and other authorities notifying Vijay Mallya’s cessation from holding position of director in the company,” the company was quoted as said.

In January, the Securities and Exchange Board of India (SEBI) had restrained Mallya and six others from the securities market and also from “buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly” till further directions.

The CBI has two cases against him — one related to the IDBI Bank case and the other related to a loan default of over Rs 6,000 crore filed on the basis of a complaint from a State Bank of India led consortium.

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News Network
June 3,2020

New Delhi, Jun 3: India registered its highest single-day spike in COVID-19 cases on Wednesday with 8,909 more cases reported in the last 24 hours, taking the country's tally to 2,07,615, while the death toll rose to 5,815 according to the Union Health and Family Welfare Ministry.

The number of active COVID-19 cases stood to 1,01,497 while 1,00,303 people have been cured/discharged/migrated.

According to the Union Health and Family Welfare Ministry, out of all the states, Maharashtra has recorded the highest number of coronavirus cases with 72,300 patients followed by Tamil Nadu with 24,586 cases.

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News Network
March 2,2020

New Delhi, Mar 2: Senior Congress leader P Chidambaram on Sunday hit out at Union Home Minister Amit Shah for his comments that no one from the minority community will be affected by amended Citizenship Act and asked why then was the community excluded from the law in the first place.

Addressing a rally in Kolkata, Shah assured people of the minority community that not a single person will lose citizenship due to the Citizenship (Amendment) Act (CAA).

"The Home Minister says that no minority will be affected by CAA. If this is correct, they should tell the country who would be affected by CAA. If no one would be affected by CAA, as it currently is, why did the government pass the law?

"If the CAA aims to benefit all minorities (no one will be affected, says HM), then why are Muslims excluded from the list of minorities mentioned in the Act?," the former finance minister asked in a post on Twitter.

At his first public rally in Kolkata after the 2019 general elections, Shah said, "The opposition is terrorising the minorities. I assure every person from the minority community that the CAA only provides citizenship, does not take it away. It won't affect your citizenship."

"The opposition parties are spreading canards that refugees will have to show papers but this is absolutely false. You don't have to show any paper. We will not stop until all refugees are granted citizenship," Shah told the public.

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News Network
June 3,2020

New Delhi, Jun 3: Seasoned diplomat and former spokesperson of the External Affairs Ministry Raveesh Kumar has been appointed as India's next Ambassador to Finland, the government announced on Wednesday.

Raveesh Kumar, a 1995-batch Indian Foreign Service officer, served as the spokesperson of the MEA from July 2017 to April 2020 during which he deftly articulated India's position on a number of sensitive issues including last year's Balakot strike, reorganisation of Jammu and Kashmir and the controversy surrounding the National Register of Citizens.

"He is expected to take up the assignment shortly," the MEA said.

Before becoming the MEA spokesperson, Kumar was serving as Consul General of India in Frankfurt.

Kumar started his career at the Indian Mission in Jakarta and it was followed by his postings in Thimpu and London.

In his nearly 25-year career, Kumar also looked after the East Asia desk in the headquarters of the MEA in Delhi and served as Deputy Chief of Mission in Jakarta followed by his posting as Consul General in Frankfurt from August 2013 to July 2017.

In Finland, he succeeds Vani Rao.

Finland is an important country for India in Europe, and bilateral trade has been on an upswing in the last few years.

Around 35 Indian companies have invested in Finland in IT, healthcare, hospitality and automotive sectors while over 100 Finnish companies have operations in India in energy, textiles, power plants and electronics sectors.

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