Mumbai Loan Defaulter

A special court in Mumbai has issued a non-bailable warrant (NBW) against fugitive businessman Vijay Mallya in a Rs 180-crore loan default case linked to Indian Overseas Bank (IOB).

Noted art director Nitin Chandrakant Desai, who was found dead at his studio in Maharashtra's Raigad, had defaulted on a Rs 252-crore loan to its financial creditor, and a bankruptcy court had admitted an insolvency petition against his firm.

A special Prevention of Money-Laundering or PMLA court in Mumbai on Wednesday rejected bail pleas of a former Chief Financial Officer and an ex-internal auditor of Cox and Kings Group, who were arrested by the Enforcement Directorate in connection with its probe in the Yes Bank alleged loan default case.

A Mumbai court has extended police custody of HDIL Directors Rakesh and Sarang Wadhwan till October 14 after they were arrested last week in connection with loan default worth Rs 4,355 crore at PMC Bank

The father-son promoters of crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL) openly maintained a flamboyant lifestyle as they moved around with armed guards. Accused of not repaying loans up to Rs 6,500 crore to Punjab and Maharashtra Cooperative (PMC) Bank, Rakesh Kumar Wadhawan and his son Sarang Wadhawan will stay in...

Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...

A special court in Mumbai today fixed September 3 as the next date of hearing in the Vijay Mallya fugitive economic offender declaration case as some other parties have sought to implead themselves in the matter pertaining to the alleged default of over Rs 9,000 crore bank loans, officials said.

A 55-year-old businessman from Thane approached a financial institution to seek loan for buying a new car, and was shocked to learn that he was on a defaulters' list, for not repaying Rs 15 lakh for two cars purchased earlier. Dashrath Sable, who owns a travel business, found the two cars had been bought with his documents and even his signature ha...

Arthur road jail in Mumbai will be the home of fugitive liquor baron Vijay Mallya if he is extradited to India to face the law in connection with the Rs 9,000 crore loan default cases.

Business tycoon Vijay Mallya was "the prime mover in the plot" to launder a big chunk of the 900 crore-bank loan taken to keep Kingfisher Airlines flying in 2009 and had used part of the IDBI bank loan to even fund the Force India Formula 1 Team, the Enforcement Directorate has alleged in charges filed in a Mumbai court on Wednesday.

A charge-sheet has been filed against tycoon Vijay Mallya in the Rs 900 crore loan default case by the Central Bureau of Investigation, which has conducted a year-long investigation in the case. Mr Mallya has been accused of conspiracy and cheating. Wanted in a series of loan default cases, the liquor baron, who skipped the country, has also been n...

The Enforcement Directorate, which investigates financial crimes, has moved a special anti-money laundering court in Mumbai to declare business tycoon Vijay Mallya an offender over a billion dollars in unpaid loans by his firms.

An arrest warrant has been issued against Vijay Mallya, who has refuted allegations that he siphoned nearly half of a 900-crore loan to his Kingfisher Airlines, to buy property abroad.

While the enforcement agencies have yet to effectively harness the web to tackle crime, loan recovery agents are not only tracking down defaulters by looking up their profiles on social networking sites, but are going a step further by luring...

As recovery agents come to assume Shylock-like proportions for those defaulting on their loans, Wednesday night saw a family being made homeless, allegedly because of persecution by the agents for being unable to make loan payments on time. The harassment has driven them to the extent of threatening to commit suicide.The residence of Diliprao Patil...

A special court in Mumbai has issued a non-bailable warrant (NBW) against fugitive businessman Vijay Mallya in a Rs 180-crore loan default case linked to Indian Overseas Bank (IOB).

Noted art director Nitin Chandrakant Desai, who was found dead at his studio in Maharashtra's Raigad, had defaulted on a Rs 252-crore loan to its financial creditor, and a bankruptcy court had admitted an insolvency petition against his firm.

A special Prevention of Money-Laundering or PMLA court in Mumbai on Wednesday rejected bail pleas of a former Chief Financial Officer and an ex-internal auditor of Cox and Kings Group, who were arrested by the Enforcement Directorate in connection with its probe in the Yes Bank alleged loan default case.

A Mumbai court has extended police custody of HDIL Directors Rakesh and Sarang Wadhwan till October 14 after they were arrested last week in connection with loan default worth Rs 4,355 crore at PMC Bank

The father-son promoters of crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL) openly maintained a flamboyant lifestyle as they moved around with armed guards. Accused of not repaying loans up to Rs 6,500 crore to Punjab and Maharashtra Cooperative (PMC) Bank, Rakesh Kumar Wadhawan and his son Sarang Wadhawan will stay in...

Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...

A special court in Mumbai today fixed September 3 as the next date of hearing in the Vijay Mallya fugitive economic offender declaration case as some other parties have sought to implead themselves in the matter pertaining to the alleged default of over Rs 9,000 crore bank loans, officials said.

A 55-year-old businessman from Thane approached a financial institution to seek loan for buying a new car, and was shocked to learn that he was on a defaulters' list, for not repaying Rs 15 lakh for two cars purchased earlier. Dashrath Sable, who owns a travel business, found the two cars had been bought with his documents and even his signature ha...

Arthur road jail in Mumbai will be the home of fugitive liquor baron Vijay Mallya if he is extradited to India to face the law in connection with the Rs 9,000 crore loan default cases.

Business tycoon Vijay Mallya was "the prime mover in the plot" to launder a big chunk of the 900 crore-bank loan taken to keep Kingfisher Airlines flying in 2009 and had used part of the IDBI bank loan to even fund the Force India Formula 1 Team, the Enforcement Directorate has alleged in charges filed in a Mumbai court on Wednesday.

A charge-sheet has been filed against tycoon Vijay Mallya in the Rs 900 crore loan default case by the Central Bureau of Investigation, which has conducted a year-long investigation in the case. Mr Mallya has been accused of conspiracy and cheating. Wanted in a series of loan default cases, the liquor baron, who skipped the country, has also been n...

The Enforcement Directorate, which investigates financial crimes, has moved a special anti-money laundering court in Mumbai to declare business tycoon Vijay Mallya an offender over a billion dollars in unpaid loans by his firms.

An arrest warrant has been issued against Vijay Mallya, who has refuted allegations that he siphoned nearly half of a 900-crore loan to his Kingfisher Airlines, to buy property abroad.

While the enforcement agencies have yet to effectively harness the web to tackle crime, loan recovery agents are not only tracking down defaulters by looking up their profiles on social networking sites, but are going a step further by luring...

As recovery agents come to assume Shylock-like proportions for those defaulting on their loans, Wednesday night saw a family being made homeless, allegedly because of persecution by the agents for being unable to make loan payments on time. The harassment has driven them to the extent of threatening to commit suicide.The residence of Diliprao Patil...