Vijay Mallya, during the past two days, had ceded a marginal stake in it, allowing Heineken to be the single largest shareholder.
The upcoming Union Budget to be presented on February 1 is likely to assume a nominal gross domestic product (GDP) growth between 10 and 10.5 per cent for FY26, a Business Standard poll of 10 economists showed. The first advance estimates released by the National Statistics Office (NSO) had estimated a nominal GDP growth of 9.7 per cent for FY25. Nominal GDP, calculated at current market prices, factors in the effect of inflation. It is used as the base to calculate crucial macroeconomic indicators, such as fiscal deficit, revenue deficit, and debt-to-GDP ratio.
The board of Deccan Aviation, India's largest budget carrier, will meet in Bangalore on Wednesday to consider the merger with the UB Group's Kingfisher Airlines, which bought a stake in the carrier recently.
Three days after the June 22 felicitation in New Delhi by BCCI, Kapil Dev and rest of India's 1983 World Cup winning team would revisit Lord's, where they had scripted the most memorable chapter in the history of Indian cricket 25 years ago.
The UB Group, which has interests in spirits, aviation and pharmaceuticals, is contemplating entering the organised retail sector leveraging on its Kingfisher brand name.
Force India's co-owner Vijay Mallya has rubbished speculation that he is planning to sell his stake in the Formula One team to Sahara India.
UB Group's Kingfisher Airlines, which is scheduled to launch domestic operations from April next, would sign a deal with European aircraft manufacturer Airbus Industries for supply of 14 aircraft in Mumbai on December 18.
STAR India, a wholly owned subsidiary of STAR Hong Kong, is exploring the possibilities of getting into the print media business in India. Last week, top STAR executives including STAR Hong Kong CEO Paul Aiello, STAR India CEO Uday Shankar and COO Jagdish Kumar were in Bangalore for meetings with possible joint venture partners for the print foray. The company is said to be in talks with Vijay Mallya's UB Group.
Australia's Trade Commissioner to India Elizabeth Sullivan has said that several food and beverages company in her country are keen to enter the Indian market.
The offer, open on April 10-26, was meant to acquire close to 38 million shares at Rs 1,440 a piece.
Despite rosy projections the fact remains that wine in India is not seen as an approachable beverage.
On Monday, the ministry withdrew foreign traffic rights it had granted to Kingfisher Airlines.
A week after lenders invoked more of pledged shares, they did so again.
RBI, Enforcement Directorate to see if money was sent to tax haven
Sanjay Malhotra takes charge as the 26th RBI governor at a time when headline retail inflation has shot up to 6.2%.
Lenders to Kingfisher Airlines, led by State Bank of India, had moved courts to get residual rights over these shares after Srei recovered the collateral from the defunct Kingfisher Airlines, making it difficult for Srei to sell the shares, said a legal source.
The two giants of Indian football, Mohun Bagan and East Bengal, are facing turbulent times. On the pitch, East Bengal finished a respectable third in the 2012-13 I-League season, while Mohun Bagan finished a disappointing tenth.
Ritu Mallya, step mother of Vijay Mallya, has joined the board of Mangalore Chemicals and Fertilisers.
Mallya left the country on March 2 and has had his passport revoked.
The money was paid to Mallya in two tranches in his offshore accounts.
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Lawyers say open offer must for twin stake purchase to meet Sebi rules.
Such an exit arrangement is commonly known in the business parlance as 'golden parachute' or 'sweetheart deal'
Poddar-Mallya agreement on running MCF likely to be re-worked.
UBS has already recruited 180 people in the city.
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
Mallya said he was being advised by lawyer Harish Salve.
Diageo gets assurance, Heineken may seek one, too.
Future group promoter Kishore Biyani's stake fell consistently across group companies since December 2019 after American retail major Amazon infused funds in a Future group promoter entity and the group companies started showing signs of financial distress due to closure of stores due to Covid-19 pandemic. As lenders take Future group companies to the bankruptcy courts to recover their dues under the Insolvency and Bankruptcy Code, the shareholders of Future group companies are staring at complete wipeout of their investments as secured lenders get top priority in any potential recovery, say lawyers. "The fate of all Future group shareholders is now sealed with them looking at a complete loss.
The calender aims to boost fashion and tourism in India.
Other corporate leaders, including Biocon chief Kiran Mazumdar Shaw, UB Group Chairman Vijay Mallya and Mahindra Group vice-chairman Anand Mahindra, have also expressed concerns over the current state of economy in the country.
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
Anil Ambani has interests in power, telecom and other infrastructure sectors.
W&M's single malts and vodka brand could help UB improve its position at the premium end of the Indian spirits market
Kingfisher has faced lawsuits from GMR and GVK-group run airports and also faced cases of cheque bouncing.
