Mallya holds a 32.86 per cent stake in United Breweries, after having ceded control to Dutch brewer Heineken in December last year.
A cocktail of heatwave and upcoming cricketing events is expected to usher in the peak season for the country's largest beer maker, United Breweries. The beer maker, which has gained share in some key markets, will be a major beneficiary as April to July is an important period contributing to 40-45 per cent of its annual beer volumes. Going ahead, the T20 Cricket World Cup in June and the ongoing IPL will have a positive impact on volumes and should be able to offset the negative impact of elections on sales, experts believe.
Heineken could call a shareholder meeting to vote on his ouster from a company his father built into a family empire
The judge said the assets of the respondent company cannot be left under the control of UBHL and could be handed over to official liquidator to achieve the winding up process s per the law.
Vijay Mallya, during the past two days, had ceded a marginal stake in it, allowing Heineken to be the single largest shareholder.
By 10 am, Rakshit N Jagdale is already deep into the rhythm of the day, which promises to be a carousel of meetings, calls, and strategic decisions. As managing director of Amrut Distilleries, he balances ritual and ambition, tradition and transformation, like many other legacy players in India's alcoholic beverages sector who are staring at a rosy future.
A deepening payment paralysis in Telangana's liquor industry is beginning to choke manufacturing units and strain supplies, employment, and the broader investment landscape, industry bodies have warned, as unpaid dues accumulate to levels they describe as "unprecedented" and "severe".
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
In a move that could change the sweepstakes in the Indian beer market, brewing giant SABMiller plans to acquire rival Scottish & Newcastle in a $12.8 billion deal, the Sunday Express said on Sunday.
More than half of Mallya's total package for 2015 has been paid by Mendocino Brewing Company for 'promoting' the company's beer brands
Any race that has to be run in India has to be run under the banner of the recognised affiliate, says the FMCI chairman.
Liquor baron Vijay Mallya has bought most of the items related to former Mysore ruler Tipu Sultan which went under the hammer for over 1 million pounds with Sotheby's auctioneers in London.
UB Group stocks, led by United Breweries Holdings Ltd, on Monday slumped by up to 5.3 per cent as trouble mounted for Vijay Mallya.
In all, 4.2 million shares were sold during the quarter.
The money was paid to Mallya in two tranches in his offshore accounts.
Dutch brewing major Heineken on Wednesday said it has acquired an additional 14.98 per cent stake in United Breweries Ltd, taking its total shareholding to 61.50 per cent. "Heineken N.V. today (on Wednesday) announces that it has acquired an additional 39,644,346 ordinary shares in United Breweries Ltd (UBL) taking its shareholding in UBL from 46.5 per cent to 61.5 per cent," Heineken said in a statement. UBL, with its flagship brand 'Kingfisher', is the leading player in the beer market in India.
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.
SBI Capital, Axis Capital, GMR Holdings, United Breweries, Alpic Finance (a Cipla group unit), Saradha Realty, United Bank of India and Trident India are among the prominent entities named in the list.
'I have been most pained at being painted as an absconder'.
With this, Heineken's stake has risen from 39% to 42.2%.
Kolkata-based United Bank of India, which had earlier declared Kingfisher Airlines and its four directors, including Mallya as wilful defaulters, on Tuesday identified UBHL, the guarantor of the grounded Kingfisher Airlines, also a wilful defaulter.
Diageo gets assurance, Heineken may seek one, too.
Banks tighten hold on Mallya for defaults on KFA loans
United Spirits wants to align its resources to meet its goals of becoming a trusted and respected consumer goods company.
UBHL chairman sold 8.41% stake, but didn't disclose.
Kingfisher Airlines owed Indian banks Rs 7,000 crore as of January.
Mallya has denied that he had fled India and said he would comply with laws.
What's common between Vijay Mallya, Ratan Tata and L N Mittal besides the fact that they are all India-born entrepreneurs looking to dominate global business? All three are victims of economic patriotism in foreign soil.
The agency did not seek a reappointment in FY12.
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Banks, real estate and metal scrips among the top losers.
A week after lenders invoked more of pledged shares, they did so again.
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters.
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
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