According to a Thomson Financial research, no Indian investment bank figures in the top ten list of the M&A deals that was struck this year, which was topped by UBS.
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 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.
In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
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Diageo, which recently coughed up a total of Rs 18,000 crore (Rs 180 billion) to take majority control of USL, seems to have a lot of faith in him.
While it will most certainly impact his personal credit record, it will also have repercussions for his other businesses and companies he is associated with.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
United Spirits Limited clocked sales volume of 100 million cases for the fiscal ended March 31, 2010, becoming the world's second largest spirit company by volumes, UB group chairman Dr Vijay Mallya,announced on Wednesday.
The Indian ace was voted the Players' Player of the Year at the Asian Tour's UBS Awards Gala 2006.
The offer, open on April 10-26, was meant to acquire close to 38 million shares at Rs 1,440 a piece.
Liquor baron Vijay Mallya is believed to have acquired Bouvet-Ladubay, the wine subsidiary of French champagne major Taittinger for $15 million.
Kingfisher Airlines may cut jobs, UB group chairman and CEO Vijay Mallya said on Thursday.
The survey noted that the highest growth rates for gross domestic product were recorded by China (10.7 per cent) and Taiwan (9.1 per cent).
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.
Experts say, investors will be better off exiting them at higher levels and investing in stocks of fundamentally sound companies.
An open offer for acquisition of additional stake in a listed company can move forward only after issuance of 'observations' by Sebi.
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Lawyers say open offer must for twin stake purchase to meet Sebi rules.
A case has been lodged against UB group chairman Vijay Mallya by farmers allegedly for forgery in the Patna district police on Thursday said.
If the offer is accepted, banks will have to take a haircut of about 30 per cent or Rs 2,500 crore of the total receivables of over Rs 9,000 crore.
USL is already contesting a Karnataka High Court order.
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
Ritu Mallya, step mother of Vijay Mallya, has joined the board of Mangalore Chemicals and Fertilisers.
The move also invalidates, albeit temporarily, Mallya's repeated assurances to the court and the public of a revival plan for the carrier.
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
Strong demand for Apple's latest iPhone 6 and iPhone 6 plus smartphones has helped the Chinese market outsell the United States for the first time.
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TPG was one of the first global private equity firms to enter Asia, opening a Shanghai office in 1994.
The parent entity, (Holdings) Ltd, have also expressed concern over the company's significant exposure to the airline.
The tax authorities have been piling pressure for a long time against Mallya and on Kingfisher Airlines to cough up the dues.
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According to data reviewed by Business Standard, the dues from UB Holdings alone to USL shot up by 4.3 times to Rs 1,188 crore (Rs 11.88 billion) by the end of the last financial year, compared to an outstanding of Rs 272 crore (Rs 2.72 billion) by the end of FY12.
The UB Group plans to export rum to the United Kingdom and the United States and position it as Indian Rum, with an initial shipment of 100,000 cases this fiscal.
Battleground shifts to rural and small towns, where user base aspires to upgrade to smartphones.
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.
Fresh trouble seems to be brewing for liquor baron Vijay Mallya, with Mumbai International Airport(MIAL) deciding to sell a mid-sized corporate jet owned by his group company.
Diageo gets assurance, Heineken may seek one, too.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
The move by United Spirits, the Rs 3,500-crore flagship spirits firm of the UB Group, to rope in Diageo as a strategic partner is taking more time than expected. Diageo, a global leader in spirits, is reported to have said it was yet to figure out a structure under which they could forge a strategic relationship with USL.USL has been actively involved in discussions with Diageo for nearly eight months now.
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