Vijay Mallya Sweetheart Deal

This is separate from an 'additional payout' that Sebi had ordered Diageo in June last year to pay to the minority shareholders, who had tendered their shares in an open offer in 2012,

The Debt Recovery Tribunal (DRT) on Wednesday said its March 7 order restricting transfer of $75 million as a sweetheart deal amount from Diageo Plc and two of its subsidiaries to liquor baron Vijay Mallya was "infructuous".

British liquor giant Diageo Plc on Thursday filed an interlocutory application before the Debt Recovery Tribunal seeking vacating of DRT's March 7 order barring liquor baron Vijay Mallya from withdrawing $75 million exit buyout by it under a sweetheart deal till the disposal of SBI's case against him over loan default.

In another blow to beleaguered businessman Vijay Mallya, the Debt Recovery Tribunal (DRT) on Tuesday directed New-York based J P Morgan Bank not to disburse to him $40 million of the $75 million sweetheart deal struck between him and Diageo Plc.

British liquor giant Diageo and two of its subsidiaries on Tuesday filed objections in the Debt Recovery Tribunal here against its last month order barring liquor baron Vijay Mallya from withdrawing a $75 million exit payout by it under a sweetheart deal till the disposal of State Bank of India's case against him over loan default.

Under fire over huge unpaid loans of long-defunct Kingfisher Airlines, a defiant Vijay Mallya today said he is making efforts to reach a 'one-time settlement' with banks through additional payments to the lenders.

This is separate from an 'additional payout' that Sebi had ordered Diageo in June last year to pay to the minority shareholders, who had tendered their shares in an open offer in 2012,

The Debt Recovery Tribunal (DRT) on Wednesday said its March 7 order restricting transfer of $75 million as a sweetheart deal amount from Diageo Plc and two of its subsidiaries to liquor baron Vijay Mallya was "infructuous".

British liquor giant Diageo Plc on Thursday filed an interlocutory application before the Debt Recovery Tribunal seeking vacating of DRT's March 7 order barring liquor baron Vijay Mallya from withdrawing $75 million exit buyout by it under a sweetheart deal till the disposal of SBI's case against him over loan default.

In another blow to beleaguered businessman Vijay Mallya, the Debt Recovery Tribunal (DRT) on Tuesday directed New-York based J P Morgan Bank not to disburse to him $40 million of the $75 million sweetheart deal struck between him and Diageo Plc.

British liquor giant Diageo and two of its subsidiaries on Tuesday filed objections in the Debt Recovery Tribunal here against its last month order barring liquor baron Vijay Mallya from withdrawing a $75 million exit payout by it under a sweetheart deal till the disposal of State Bank of India's case against him over loan default.

Under fire over huge unpaid loans of long-defunct Kingfisher Airlines, a defiant Vijay Mallya today said he is making efforts to reach a 'one-time settlement' with banks through additional payments to the lenders.