Even in the face of riots, the united spirit of Birmingham stands tall, reports Bikash Mohapatra
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.
The company said it will appoint a new Chairman at the next Board meeting.
Sebi to look into disclosure, other lapses in the Vijay Mallya, Diageo case.
Asked to quit United Spririts' board, Vijay Mallya struck a defiant note saying he 'intends' to continue as its Chairman.
In a rare appearance since shifting base to the United Kingdom, troubled Indian businessman Vijay Mallya was seen having a good time in London as he watched the Indian Premier League final between Royal Challengers Bangalore and Sunrisers Hyderabad on Sunday. In a video gone viral, Mallya senior is seen having a gala time with his son Siddharth along with a few others. The video was posted by Siddharth as he watched the IPL final with his father. Siddharth also mentions about Force India's third place finish in the Monaco Grand Prix, which also took place on Sunday. "Here we are, watching together from London. It doesn't get better than Sergio Perez getting a podium (for Mallya co-owned Force India). Hopefully we can add to what has been an epic day of sports so far," says Mallya junior in the video as he catches the IPL action with his father on the big screen.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Price has been fixed at Rs 85.3cr
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.6% and 1.3%, respectively to touch their fresh lifetime highs.
Last month, India's AlcoBev industry pulled off a successful two-day showcase exhibition at the Hotel Renaissance in Powai. We got experts to show readers how they can create some mind-boggling cocktail concoctions, so watch and learn.
The company contented before the tribunal that the amount was paid outside India.
He manages to get back a majority of pledged shares.
The Union finance ministry may have to battle it out in court with the sponsors of the Indian Premier League cricket tournament to make them comply with its service tax payment demands.
Vijay Mallya-promoted United Spirits Ltd has told its investors that at its current growth rate of 12 per cent annually, it will become the world's number one spirits company this fiscal.
The 55 teams have been divided into 10 groups of five or six, and the top two teams in each qualify directly.
Abay Kewadkar, director, Four Seasons Wines, says there is room for expansion of the facility based on initial consumer feedback to the initiative.
The aircraft was earlier owned by EIH (Oberoi group).
Vijay Mallya who inherited the UB Group from his father as a young 28-year-old, said he has got "nothing to prove".
Ranibai Rajaram Chhabria, mother of late Manohar Rajaram Chhabria, has challenged the merger of Shaw Wallace with the UB Group saying she was entitled to a fifth of her deceased son's estate.
Tipplers will miss the usual price cuts and other freebies this Diwali as liquor makers are attempting to woo customers only through attractive packaging rather than festive season discounts. Unlike last year, major players in the Indian Made Foreign Liquor (IMFL) segment such as United Spirits, Radico Khaitan and Diageo are staying away from any price cuts and discounts, instead, they are concentrating more on attractive packaging and premium brands.
Indian billionaire Vijay Mallya's move to rope in Diageo -- the world's largest spirits firm -- as a strategic partner in his flagship firm United Spirits has hit an anti-trust roadblock. The companies have been in discussions for almost a year to hammer out a deal in which Diageo was expected to pick up a little over 14 per cent stake in USL for around Rs 1,200 crore.
The brand actually fell between two stools -- the beer went to SABMiller and the whiskey to Mallya. Who should promote it?
The assets are estimated to be worth over Rs 6,000 crore.
The money was paid to Mallya in two tranches in his offshore accounts.
RBI, Enforcement Directorate to see if money was sent to tax haven
Liquor firms introduce innovative packaging to push sales and save costs.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Liquor baron Vijay Mallya is mulling to divest around 49 per cent stake in United Spirits Ltd's UK-based wholly-owned subsidiary Whyte & Mackay (W&M), which it acquired for 595 million pounds in May 2007.
"They have beer business in India, which has a conflict of interest as Kingfisher is the largest beer brand in the country. I am ready to buy back," Mallya said in Baramati while opening United Spirits' Baramati Four Seasons winery. Earlier in January, a consortium of Carlsberg and Heineken had acquired S&N for 7.5 billion pounds. S&N had 37.5 per cent stake in the UB Group. As per the takeover agreement, Heineken was supposed to continue to hold S&N's business in the UK.
The growth of exports to India stood out, with value up 28 per cent to 43 million pounds
The Group has already launched 13 labels from Bauvet Ladubay, the company acquired from Saunur Loire of France, for euro15 million. United Spirits, the division that handles the wine business, has also launched seven labels of wines from New Zealand and two from Australia.
Royal Challengers Bangalore captain Virat Kohli remembered 'controversial' former franchise director Vijay Mallya for picking him in the team and providing an opportunity to rub shoulders with the world's best players. "My association with RCB has been special as it has been exciting from the first season. I was chosen to play for RCB by Mr Mallya. I have learnt so much and getting to play with the world's best players. "I am welcomed here warmly, I love this franchise, the city, fans, deep connection," he told reporters on the eve of his team's face-off with Sunrisers Hyderabad at Chinnaswamy stadium in Bengaluru. Mallya, who has defaulted in loans in excess of Rs 9000 crore, is facing probe by various investigative agencies. The 60-year-old bought RCB in 2008 but the popular franchise has not been able to win a single Indian Premier League title in eight attempts.
Indian Premier League franchise Royal Challengers Bangalore has notified the Board of Control for Cricket in India about Vijay Mallya's resignation as Director of Royal Challengers Sports Private Limited (RCSPL).
These recipes are simple and will give a festive twist to your Christmas party.
United Spirits Ltd will launch five brands in China as part of its entry into the communist country's market.
Here's the full text of the statement
Liquor tycoon Vijay Mallya-promoted United Spirits on Wednesday said it had acquired Scottish whiskey maker Whyte & Mackay for 595 million pounds (nearly Rs 4,819 crore).
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
The Survey shows fiscal consolidation despite slowdown in growth.
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