This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-36126961
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| India revokes passport of drinks tycoon Vijay Mallya | India revokes passport of drinks tycoon Vijay Mallya |
| (about 7 hours later) | |
| India has revoked the passport of business tycoon Vijay Mallya accused of hiding in Britain over huge debts from his defunct Kingfisher Airlines. | |
| There is an arrest warrant for Mr Mallya and Delhi says it is considering seeking his deportation from the UK. | There is an arrest warrant for Mr Mallya and Delhi says it is considering seeking his deportation from the UK. |
| The flamboyant businessman is known as India's Richard Branson for his investment in aviation, Formula 1, Indian cricket and the drinks industry. | The flamboyant businessman is known as India's Richard Branson for his investment in aviation, Formula 1, Indian cricket and the drinks industry. |
| His debts were triggered by the failure of his Kingfisher Airlines in 2013. | His debts were triggered by the failure of his Kingfisher Airlines in 2013. |
| Authorities have given the businessman one week to answer why his passport should not be impounded or revoked. | Authorities have given the businessman one week to answer why his passport should not be impounded or revoked. |
| He is believed to have some $1.4bn (£1bn) of unpaid debts after the collapse of the airline and is thought be in the UK. | He is believed to have some $1.4bn (£1bn) of unpaid debts after the collapse of the airline and is thought be in the UK. |
| Mr Mallya has dismissed allegations that he left India because of the outstanding debt and also criticised his "media trial" over the issue. | Mr Mallya has dismissed allegations that he left India because of the outstanding debt and also criticised his "media trial" over the issue. |
| In March, he was blocked from receiving $75m severance pay from British drinks giant Diageo. | In March, he was blocked from receiving $75m severance pay from British drinks giant Diageo. |
| The heavily indebted businessman was due to receive the money after being ousted from the firm in February. | The heavily indebted businessman was due to receive the money after being ousted from the firm in February. |
| But a consortium of banks and creditors had demanded the money should be used to settle some of Mr Mallya's outstanding debt to them. | But a consortium of banks and creditors had demanded the money should be used to settle some of Mr Mallya's outstanding debt to them. |