Skip to content
Search AI Powered

Latest Stories

India’s Finance Minister Arun Jaitley Rejects Mallya’s Claims of Meeting Him

India’s finance minister Arun Jaitley on Wednesday (12) has rejected the claims of fugitive liquor baron, accused in numerous financial fraud cases - Vijay Mallya that having been met him before moving to London in 2016.

The minister said that he never gave him an appointment after becoming a minister in 2014.


Describing Mallya's offer to settle overdue loans of over £958.79 million to his dysfunctioned Kingfisher Airline as "bluff offers", Jaitley added that he did not received the papers Mallya was carrying during a brief meeting.

“Since he was a MP and he occasionally attended the House, he misused that privilege on one occasion while I was walking out of the House to go to my room. He paced up to catch up with me and while walking uttered a sentence that ‘I am making an offer of settlement’. Having been fully briefed about his earlier ‘bluff offers’, without allowing him to proceed with the conversation, I curtly told him ‘there was no point talking to me and he must make offers to his bankers,” the minister said in his Facebook blog.

“I did not even receive the papers that he was holding in his hand. Besides this one sentence exchange where he misused his privilege as a Rajya Sabha member, in order to further his commercial interest as a bank debtor, there is no question of my having ever given him an appointment to meet me,” the minister added.

Finance minister’s response came in the wake of Mallya’s statement claiming after a court hearing in London that he was "tipped off" to move out of the country.

"I left because I had a scheduled meeting in Geneva. I met the finance minister before I left, repeated my offer to settle with the banks. That is the truth," Jaitley told journalists in London.

Mallya, however, did not reveal who "tipped him off" to move out of the country.

"King of Good Times", Vijaya Mallya (62), who is fighting number of legal cases in the UK and India over fraud and money-laundering allegations as well as an extradition to India.

More For You

Essar-Oil-UK-Getty

Essar Oil UK is advancing decarbonization at its Stanlow Refinery with two key projects supported by Industrial Energy Transformation Fund (IETF) grants. (Photo: Getty Images)

Essar, 24 other firms get £51.9m to cut industrial carbon emissions

THE GOVERNMENT has allocated £51.9 million to support 25 businesses in reducing carbon emissions as part of the Plan for Change aimed at driving economic growth and rebuilding Britain.

The funding covers projects across various industries, including food manufacturing, cement production, and glass processing.
Companies receiving funding include Essar Oil UK, Nestlé's coffee processing site in Staffordshire, Heinz's baked bean factory in Wigan, and Hanson Cement in North Wales.

Keep ReadingShow less
Tesla-Getty

Tesla has faced challenges in 2024, reporting its first annual decline in deliveries as incentives failed to increase demand for its ageing vehicle lineup. (Photo: Getty Images)

Tesla received nearly £200m in UK government grants since 2016: Report

ELON MUSK’s electric vehicle company Tesla has received £191 million in grants from the UK government since 2016, according to an analysis by Tussell.

The majority of the funding, £188m, was provided by the Department for Transport (DfT) through the plug-in car grant scheme, which aimed to promote the adoption of electric and plug-in hybrid vehicles, The Guardian reported.

Keep ReadingShow less
CES-2025

CES 2025, organised by the Consumer Technology Association (CTA), will be held from 7 to 10 January.

Indian tech innovations to shine at CES 2025, says top executive

THE INDIAN technology sector continues to capture attention, with several startups and entrepreneurs showcasing their innovations at CES 2025, the world's largest tech event.

John Kelley, vice president and show director of CES, described the Indian tech story as “fascinating” and highlighted its growing global significance.

Keep ReadingShow less
Anil Agarwal acquires London's historic Riverside Studios

Anil Agarwal

Anil Agarwal acquires London's historic Riverside Studios

THE founder and chairman of Vedanta group Anil Agarwal is the new owner of the iconic Riverside Studio in London, a statement said on Wednesday (8).

The 100-year-old studio, which is a renowned global centre for arts and located on the north bank of the river Thames in the centre of London, will now operate under the name ‘Anil Agarwal Riverside Studios Trust’, it informed.

Keep ReadingShow less
india-gdp-iStock

India's GDP growth was 9.7 per cent in 2021-22, 7 per cent in 2022-23, and 8.2 per cent in 2023-24. )Representational image: iStock)

India's GDP growth projected to fall to 6.4 per cent in FY25

INDIA's gross domestic product (GDP) growth is projected to decline to 6.4 per cent in the financial year 2024-25, marking its lowest rate in four years, according to government data released on Tuesday. The slowdown is attributed to weaker performance in the manufacturing and services sectors.

The growth rate of 6.4 per cent, estimated by the national statistics office (NSO), is the lowest since the contraction of 5.8 per cent recorded during the Covid-19 pandemic in 2020-21. GDP growth was 9.7 per cent in 2021-22, 7 per cent in 2022-23, and 8.2 per cent in 2023-24.

Keep ReadingShow less