UB Group Chairman Vijay Mallya's grip on United Breweries slipped further on Thursday, after lenders to UB Group companies offloaded a part of the stake in Kingfisher beer that was pledged to them.
A spokesperson said Sahara group is not into business with Trinity.
He manages to get back a majority of pledged shares.
The aircraft was earlier owned by EIH (Oberoi group).
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
The money was paid to Mallya in two tranches in his offshore accounts.
Chasing 165, Nicholas Pooran smashed a 28-ball 53 as Glenn Maxwell and Chris Gayle played useful knocks as Kings XI Punjab completed a hat-trick of victories.
In the eye of a storm over Supreme Court's observation on its retail banking licence in the country, Swiss banking major UBS on Tuesday said it is for the Indian government to defend the views and reasons for granting the same.
The sector will start making operating profits by 2020.
Karnataka HC seeks probe into fund diversion by United Spirits.
Domestic equity markets are in elite company. In May, Indian markets joined select developed markets (DMs) such as the US, UK and Germany to record new all-time highs. Among emerging markets (EMs), Brazil is the other market to have logged new highs this month. Asian peers such as South Korea, Taiwan and New Zealand are currently between 2 per cent and 10 per cent below their previous highs made earlier this year. The domestic markets were among the worst-performing major global markets in April amid a lethal second-wave of covid-19 infections.
A call drop is a voice call, which after being successfully established, is interrupted.
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
The battle for the takeover of MCFL has been going on for one year.
Pune firm buys 24.46% stake from open market to become largest shareholder.
Bharti Airtel and United Breweries have expressed interest in acquiring, respectively, the Delhi and Bangalore or Mumbai teams in the impending Indian Premier League for Twenty20 cricket matches.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
The ongoing key reforms such as sops for manufacturing, easier labour laws, wooing FDI inflows and privatisation will help improve productivity and support long-term growth at 7.5-8 per cent levels, which if played out well, can help India contribute 15 per cent of global GDP growth by FY2026, says a report. According to a report pencilled by the India economist at UBS Securities, Tanvee Gupta Jain, the country has the lowest manufacturing costs among peers, even though China retains significant ecosystem advantages and despite that India and Vietnam appear most likely to benefit from a shift out of China.
In a thread of tweets, Mallya claimed, "The airlines struggled financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where banks money went. I have offered to repay 100 % of the principal amount to them. Please take it."
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.
Such an exit arrangement is commonly known in the business parlance as 'golden parachute' or 'sweetheart deal'
Karnataka Chief Minister Siddaramaiah said that offenders should be punished to the full extent of law regardless of who they are.
This will be the largest M&A by an Indian firm, to be complete by January-end.
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.
RBI, Enforcement Directorate to see if money was sent to tax haven
It was the relentless pursuit of justice over a decade by a group of senior citizens that resulted in the Supreme Court's order for demolition of the illegal 40-storey twin towers of a real estate group in Noida.
As part of the deal for purchase of 53.4 per cent stake in Vijay Mallya-led UB group's United Spirits Ltd, Diageo has made a Rs 5,441 crore open offer for purchase of 26 per cent stake in the company from non-promoter shareholders.
Individuals flew the flag for philanthropy in FY20, escalating their contribution significantly in comparison with company and foreign fund donations, according to the Dasra/Bain & Co India Philanthropy Report of 2021. Funding by individual philanthropists went up by 42 per cent from Rs 21,000 crore in FY19 to Rs 30,000 crore in FY20.
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.
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
Unconscious children being carried by parents in their arms, people laying on roads, health workers scrambling to attend to those affected by the styrene vapour leak and residents fleeing were some of the scenes that played out near Visakhapatnam on Thursday, bringing back grim memories of the 1984 Bhopal gas tragedy.
Sectors such as electronics, pharmaceuticals and automobiles can see supply disruptions in value chain, which may lead to a derailment of the domestic economic growth.
Though the UB Group chairman didn't name anybody, some of these associates could be the owners of Balaji Distilleries, whose breweries and distilleries were acquired by UB Group companies -- United Spirits and United Breweries -- during the last financial year.
The State University of New York at Buffalo (The University at Buffalo) has established a comprehensive exchange programme with the Banaras Hindu University.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
Asked to quit United Spririts' board, Vijay Mallya struck a defiant note saying he 'intends' to continue as its Chairman.
UBS Securities, broking arm of the largest Swiss bank, and Australia's Macquarie Equities Research are the most bearish.
A phased roll-out of prohibition will hit revenues of companies, which get 5% of their volume sales from the state
A week after lenders invoked more of pledged shares, they did so again.
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