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ETINSIGHT - Downfall of Kingfisher Airlines

ETINSIGHT - Downfall of Kingfisher Airlines

Over 100 companies, including United Spirits, Kingfisher Airlines, penalised for flouting Sebi norms

Aug 23, 2015    

New Delhi: More than 100 listed companies, including United Spirits Ltd and long-grounded Kingfisher Airlines, have been slapped penalties for violating the Listing Agreement provisions set forth by Sebi and exchanges.Kingfisher, once a premium airline operated by Vijay Mallya-led UB Group, has faced penal actions including freezing of promoter shares, for violation to norms relating to timely submissions of Annual Report, shareholding pattern, financial results and reconciliation of share capital audit report.United Spirits, wherein UB Group has sold majority control to UK-based liquor giant ...

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