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"Catching thieves will not harm the country," noted Industrialist Rahul Bajaj said today batting for action against wilful defaulters amid a raging controversy over liquor baron Vijay Mallya, who owes over Rs 9,000 crore to banks, leaving the country. (Reuters)
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Vijay Mallya's craft beer firm brews fresh funding in US: Away from the furore over huge loan default in India by Vijay Mallya-led UB Group, its US-based brewery arm has secured a complex funding that it intends to repay later with a 'bridge loan' from its parent. California-based Mendocino Brewing Company, which sells a number of beer brands including Kingfisher in the US, has got Mallya as its Chairman and is owned by UB Group through a complex shareholding structure. In a regulatory filing with the US markets regulator SEC (Securities and Exchange Commission), Mendocino has disclosed having issued a 'promissory note' to Delaware-based Catamaran Services, Inc, in the principal amount of $325,000 (over Rs 2 crore). (PTI)
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'There is degree of inexperience which is resulting in centralisation of power' says Rahul Bajaj. (Reuters)
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BJP chief Amit Shah said probe is being conducted into how Mallya escaped from the country. "He should not have gone. If he was right, he should have stayed here. Our courts are very liberal," he said. (PTI)
