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United Spirits allege irregularities by Mallya-led UB Group, begins move to recover Rs 1,337 cr

Jul 23, 2015

United Spirits allege irregularities by Mallya-led UB Group, begins move to recover Rs 1,337 cr

UK's Diageo group-controlled United Spirits on Thursday alleged irregularities and potential violations of law in diversion of funds by the firm's erstwhile promoter Vijay Mallya-led UB Group and said it is initiating process to recover dues totaling to Rs 1,337 crore. #Business #NewsTracker #Vijay Mallya #UB Group #United Spirits #Diageo Group
USL sells United Breweries stake to Heineken: Will Mallya lose Kingfisher brewer too?

Jul 08, 2015

USL sells United Breweries stake to Heineken: Will Mallya lose Kingfisher brewer too?

USL said that following the completion of this sale, it will "hold no shares in United Breweries and will cease to be a promoter of United Breweries". #Business #BSE #CompanyWatch #Vijay Mallya #Ministry of Corporate Affairs #Diageo #United Spirits #United Breweries #Heineken International BV
United Spirits fund diversion saga gets murkier: How the case unfolded so far

May 28, 2015

United Spirits fund diversion saga gets murkier: How the case unfolded so far

Unfortunately going by the history of our government investigating agencies, a quick outcome is expecting too much from them #Corporate governance #Vijay Mallya #United Spirits #United Breweries (Holdings) #fund diversion
More trouble for Vijay Mallya: MCA, I-T dept to inspect United Spirits accounts

May 28, 2015

More trouble for Vijay Mallya: MCA, I-T dept to inspect United Spirits accounts

A probe had revealed that between 2010 and 2013, funds were diverted from USL and/or its subsidiaries to certain UB Group companies, including Kingfisher Airlines. #Business #Vijay Mallya #Ministry of Corporate Affairs #I-T Department #corporate #UB Group #United Spirits #Anand Kripalu
United Spirits records Q4 net loss at Rs 1,799 cr, debt, liabilities rise

May 27, 2015

United Spirits records Q4 net loss at Rs 1,799 cr, debt, liabilities rise

USL suffered a loss of Rs 3,083.51 crore in 2014-15 transferred from the previous year. #Business #BSE #EarningsShow #corporate #United Spirits
NSE asks USL to make Vijay Mallya probe report public; co refuses

May 06, 2015

NSE asks USL to make Vijay Mallya probe report public; co refuses

In a fresh twist to the boardroom battle at Diageo-owned United Spirits, stock exchange NSE has asked the company to make public its inquiry report on alleged fund diversion to Vijay Mallya's UB Group, but the liquor maker has rejected the demand citing 'confidentiality'. #NewsTracker #Vijay Mallya #Diageo #UB Group #United Spirits Ltd
Kingfisher debacle to United Spirits row: Charting out the great fall of Vijay Mallya

Apr 27, 2015

Kingfisher debacle to United Spirits row: Charting out the great fall of Vijay Mallya

Over the last few years, Mallya has been battling the banks which have been going after his assets, for all the debt that is unpaid. To conclude, Mallya has always been too busy living his flamboyant lifestyle and that seems to have caught up with his businesses in the end. #Kingfisher Airlines #Vijay Mallya #UB Group #United Spirits
Vijay Mallya engaged in a losing battle with Diageo; he should just 'bow out gracefully'

Apr 27, 2015

Vijay Mallya engaged in a losing battle with Diageo; he should just 'bow out gracefully'

A battle is brewing in the boardroom of United Spirits Ltd, where majority shareholder Diageo has asked Vijay Mallya to quit over alleged fund diversion. A veteran of many corporate battles, Mallya has, however, struck a defiant note saying only shareholders have the right to oust him. #Corporate governance #Vijay Mallya #Diageo #United Spirits #related-party transactions #Vittal Mallya