United Spirits had a tough time in recent past due to management related issues. Going ahead, corporate governance is a big challenge, say experts.
According to a report in the Financial Times, two UBS bankers tried to create Pleuri, an offshore vehicle through which Ambani 'could illegally invest in securities at home'.
The sale came when Mallya was trapped in a sea of debt, mainly as a result of the losses his now grounded carrier, Kingfisher Airlines, had been piling.
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.
Experts say, investors will be better off exiting them at higher levels and investing in stocks of fundamentally sound companies.
UBHL chairman sold 8.41% stake, but didn't disclose.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
Kweku Adoboli, a 31-year-old trader at UBS based in London makes Nick Leeson, once-legendary rogue trader at Barings Securities look like an amateur.
The deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
Mallya will now be the Founder Emeritus of USL
Kingfisher said the price was arrived in accordance with the pricing guidelines prescribed under the Securities and Exchange Board of India, which is the average of the past six months' price, 30 days prior to the relevant conversion date.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
Bank of America Merrill Lynch, Citigroup, Credit Suisse, Goldman Sachs International, JP Morgan Securities, Morgan Stanley, Nomura and UBS have confirmed their commitment to the FSA Rule and the supporting Code on remuneration practices. These were published in August and would come into force on January 1, 2010 (and cover payments for performance year 2009).
USL is already contesting a Karnataka High Court order.
California-based Mendocino Brewing Company, which sells a number of beer brands including Kingfisher in the US, has got Mallya as its chairman and is owned by UB Group through a complex shareholding structure
i-flex Solutions Ltd said UBS Warburg, an investment banking and securities firm implemented a cash, current accounting and payment system around Flexcube, the banking application suite from i-flex.
Suppliers to Apple Inc are scrambling to get enough screens ready for the new iPhone 6 smartphone as the need to redesign a key component disrupted panel production ahead of next month's expected launch, supply chain sources said.
The annual meet also saw some shareholders of the country's second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions.
UB Group Chairman Vijay Mallya made international headlines last Thursday when he bought Mahatma Gandhi's memorabilia for a whopping $1.8 million from an auction in New York. Mallya, who has announced that he plans to hand over the items to the Indian government, might have a long wait ahead of him. The US Justice Department has decided to probe the legality of the sale of the Gandhi memorabilia.
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
Sources close to the development told PTI that the open offer was expected to be announced next week. The share price for the open offer would be Rs 155 per share, the amount UB Holdings paid for picking up the 26 per cent stake.
Sebi issued final observations, necessary for the offer and the deal as a whole to go through, on May 21.
The Supreme Court on Tuesday issued notice to the market regulator Securities and Exchange Board of India on the issue of settlement reached between Vijay Mallya's UB Group and Chhabria Group
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
Prospective bidders had earlier termed the reserve price as too high, while multiple legal woes of Mallya-led UB Group are also being cited by many as reasons for lack of interest in buying this property
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
After being forced to resign as chairman of MCF, Mallya is now keen on increasing his stake in the company
Sebi, in an affidavit, said its August 1 order asking Mallya and Chhabrias to make open offers to divest their stakes in excess of 21.38 per cent and 10 per cent shares respectively in Herbertsons Ltd, should be upheld by the Apex Court.
The debt-laden Kingfisher Airlines stopped operations in October 2012.
Calcutta HC dismisses United Bank of India's decision on technical grounds
It was a case of 'buy on hopes and sell on news' as the Indian market posted only modest gains despite a landslide victory to Narendra Modi-led Bharatiya Janata Party (BJP).
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
In a relief to Sahara, a US court has rejected a plea seeking to attach the Indian group's prized Plaza and Dream Downtown hotels.
CEOs expect populist measures in the Budget, to help the poor and marginalised, who make up for the largest section of voters.
These transactions have come for shareholders approval because of requirements under the new companies law and amended listing agreements.
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