Poddar had earlier said he would sell his stake in Mangalore Chemicals to the highest bidder.
'It will be important strategically and geographically because there is no port in India which is as close to the international shipping route as Vizhinjam.'
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
The low-profile chief of Deepak Fertilisers on Wednesday bought 24.46% shareholding in MCF.
Vijay Mallya was made a Member of Parliament's standing committee on chemicals and fertilisers earlier this year.
Pune firm buys 24.46% stake from open market to become largest shareholder.
Must satisfy shareholders on game plan to steer UB Group over next 12 months.
UB Group stocks, led by United Breweries Holdings Ltd, on Monday slumped by up to 5.3 per cent as trouble mounted for Vijay Mallya.
He has also said that the overall mood of the Indian consumer remains subdued
A forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.
Mallya intends to protect his shareholding in India's largest brewer in which Dutch brewer Heineken holds 37.5% stake.
The lenders have not ruled out selling the property to recover part of their loans to the company.
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
The battle for the takeover of MCFL has been going on for one year.
Banks have been struggling hard to recover dues from grounded Kingfisher Air.
Creditors are fighting to get back Rs 600 crore, KFA employees not paid for months.
Tendering the shares in an open offer will lead to higher taxation.
Ritu Mallya, step mother of Vijay Mallya, has joined the board of Mangalore Chemicals and Fertilisers.
The consortium led by SBI has also initiated the process of recovery.
Poddar-Mallya agreement on running MCF likely to be re-worked.
United Bank's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion)
Kolkata-based United Bank of India, which had earlier declared Kingfisher Airlines and its four directors, including Mallya as wilful defaulters, on Tuesday identified UBHL, the guarantor of the grounded Kingfisher Airlines, also a wilful defaulter.
The airline, part of Vijay Mallya-led UB Group, has been grounded since October 2012, after being bogged down by huge and mounting losses.
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Lawyers say open offer must for twin stake purchase to meet Sebi rules.
He manages to get back a majority of pledged shares.
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
An open offer for acquisition of additional stake in a listed company can move forward only after issuance of 'observations' by Sebi.
Deepak Fertiliser's promoter might offer to buy Saroj Poddar's stake.
The agreement says UB Group and Adventz will have the right of first refusal over each other's shares.
The Sensex ended down 134 points at 28,559 and the Nifty ended 35 points lower at 8,554
US, China and Japan have no quotas for women and have had the lowest increase in female directors.
UB Holdings facing a slew of legal cases over its exposure to the loans of now-grounded Kingfisher Airlines and increasing pressure from a consortium of lenders, may be forced to seriously go ahead with the transaction this time.
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
Sebi asked to reconsider open offer nod as KFA was identified as wilful defaulter.
Mallya has denied that he had fled India and said he would comply with laws.
The Survey shows fiscal consolidation despite slowdown in growth.
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
Diageo gets assurance, Heineken may seek one, too.
After being forced to resign as chairman of MCF, Mallya is now keen on increasing his stake in the company
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