Almost 70 per cent of alcohol distribution in India happens through liquor vends or shops, while 30 per cent happens on-premise, that is, in bars, pubs, and hotels.
Vijay Mallya has lost control of his companies.
Bombay high court on Tuesday refused to restrain banks from selling shares of United Spirits pledged as security against loans to Kingfisher.
To use proceeds from United Spirits stake sale.
Having watched Virat Kohli's on-ield exploits from 22 yards, dashing Jamaican batsman Chris Gayle is not at all surprised with his Royal Challengers Bangalore captain's current form.
Confirming the sale, senior executives of public-sector banks said there was no court directive yet to stop selling shares.
The famous tag of "king of good times", used equally for Mallya and his Kingfisher beer, has been punned mercilessly in newspaper headlines to highlight the trouble in his airline.
India's tough stance is better late than never.
The employees have alleged that Mallya, who has been giving them false promises, has been able go away scot free by eliciting "political favours".
Kishore Chhabria and Vijay Mallya have called truce. What drove Mallya to the negotiating table? What does it mean for Chhabria?
The company hiked its loan limit to the debt stricken carrier to Rs 750 cr from Rs 300 cr.
As per the latest shareholding pattern data of the company, foreign institutional investors held 45.81 per cent stake in Vijay Mallya-led UB group firm United Spirits Ltd as on December 31.
Bankers and the senior management are expected to convene another meeting later this month.
The official liquidator said it would be in public interest that these properties are restored to him so that the interest of all creditors, including the applicant banks, can be "safeguarded".
The Debt Recovery Tribunal (DRT) on Tuesday directed Diageo Plc not to disburse $40 million of the $75 million sweetheart deal to him.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
Here's the full text of the statement
Milkha Singh, 92, best known as the 'Flying Sikh' and most remembered for finishing fourth in the 400m final in the 1960 Rome Olympic Games, was bestowed with the lifetime achievement award.
Rising income has allowed consumers to upgrade not just from country liquor to Indian-made foreign liquor, but also to better brands.
Beleaguered liquor baron Vijay Mallya on Wednesday announced he will retire as chairman of Sanofi India and will not seek reelection as a director of the drug maker.
Shares of United Spirits on Monday soared nearly 35 per cent, taking its market valuation higher by Rs 6,211 crore, after the UK-based Diageo Plc said it will buy 53.4 per cent stake in the company for Rs 11,166.5 crore in a multi-structured deal.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
Sahara India needs to pay back $5.3 billion, raised from millions of small investors through the sale of bonds ruled by the Supreme Court to be illegal, before founder Subrata Roy can be released.
While it will most certainly impact his personal credit record, it will also have repercussions for his other businesses and companies he is associated with.
Sanofi India is seeking approval of the shareholders for perpetuity.
United Spirits Ltd, owned by Vijay Mallya-controlled UB Group, is set to become the world's second-largest spirits firm by volumes, dislodging Paris-headquartered Pernod Ricard.
Much of this has been made possible by the owners's insistence on building a team, rather than banking on a collection of talented individuals not necessarily suited to play alongside one another.
'I have been most pained at being painted as an absconder'.
Tipplers will miss the usual price cuts and other freebies this Diwali as liquor makers are attempting to woo customers only through attractive packaging rather than festive season discounts. Unlike last year, major players in the Indian Made Foreign Liquor (IMFL) segment such as United Spirits, Radico Khaitan and Diageo are staying away from any price cuts and discounts, instead, they are concentrating more on attractive packaging and premium brands.
The details Mallya filed earlier in his disclosure statement about his foreign properties do not have reference of cash in hand or bank details
The company said it will appoint a new Chairman at the next Board meeting.
Liquor baron Vijay Mallya is mulling to divest around 49 per cent stake in United Spirits Ltd's UK-based wholly-owned subsidiary Whyte & Mackay (W&M), which it acquired for 595 million pounds in May 2007.
Many other Indians are heading the businesses at companies abroad.
The company secured independent valuation for these properties and had shared the same with Mallya
Not just e-commerce players, even spirits majors are banking on artificial intelligence and chatbots to offer newer, quicker, smarter services. Shivani Shinde Nadhe reports.
Mallya claims private airlines were discriminated against by the Indian government, which bailed out state-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways.
A factor which would be key to Scotch consumers is the new currency an independent Scotland would go for .
W&M's single malts and vodka brand could help UB improve its position at the premium end of the Indian spirits market
Miguel A Torres, president, Torres group of companies, has his friendly, blue eyes fixed on the bubbling market. "We will invest $1 million to hire more people and expand to other parts. We have already invested the same over the last six years," he says. Torres produces red, white, sparkling, and dessert wines, ranging from single vineyard to mass-market brands.
Supreme Court has posed a question to Mallya about the truthfulness of his disclosure of assets and transfer of $40 million to his children
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