Vijay Mallya was made a Member of Parliament's standing committee on chemicals and fertilisers earlier this year.
'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.'
Ritu Mallya, step mother of Vijay Mallya, has joined the board of Mangalore Chemicals and Fertilisers.
He has also said that the overall mood of the Indian consumer remains subdued
An open offer for acquisition of additional stake in a listed company can move forward only after issuance of 'observations' by Sebi.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
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