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Monday 20 February 2017 loc: US

Vijay Mallya

United Breweries asks Mallya to step down from board

India’s largest beer brewer has asked Vijay Mallya to step down from his position as non-executive chairman of its board, as a consortium of 17 banks continue to pursue the tycoon for debts of US$1.4bn.

Thursday, February 9th, 2017 No Comments »

Diageo could be forced to buy remaining shares in USL

India’s Securities and Exchange Board (Sebi) could force Diageo to buy the 44% of the shares it does not own in United Spirits Limited (USL).

Tuesday, February 7th, 2017 No Comments »

Mallya gives $40m of Diageo payout to kids

Vijay Mallya has gifted $40 million of a $75m payout from Diageo to his children, as 17 banks continue their efforts to recover more than a billion dollars of debt relating to Mallya’s now defunct Kingfisher Airlines.

Friday, November 25th, 2016 No Comments »

Mallya: USL submits evidence of £151m ‘improper fund diversions’

Diageo-controlled United Spirits has submitted evidence of £151m worth of improper fund diversions to companies controlled by Vijay Mallya when he was chairman of the company to financial authorities.

Monday, July 11th, 2016 No Comments »

Mallya summoned to money laundering court

Former United Spirits owner Vijay Mallya has been ordered to appear in person before a Mumbai anti-money laundering court on 29 July.

Thursday, June 30th, 2016 1 Comment »

Arrest warrant issued for Mallya

Indian authorities have issued an arrest warrant against Vijay Mallya, the former head of United Spirits, just days after freezing his passport.

Tuesday, April 19th, 2016 No Comments »

United Spirits seeks to declare itself ‘sick’

United Spirits, India’s market leader in spirits in which Diageo holds a controlling 55% stake, wants its shareholders to declare the company “sick”.

Monday, January 4th, 2016 No Comments »

D-day set for Vijay Mallya

Shareholders in Diageo-controlled United Spirits Limited (USL) have set a date on which they will decide the fate of company chairman Vijay Mallya.

Monday, November 2nd, 2015 No Comments »

Diageo in £315m threat to USL shares

Diageo could stand to lose shares worth £315 million from its Indian subsidiary United Spirits (USL) if “adverse” rulings are taken on legal proceedings against its former holding company.

Monday, September 14th, 2015 No Comments »

Diageo’s battle with Mallya boils over

A battle has erupted between Diageo and Vijay Mallya over his position as chairman of United Spirits, after a report has alleged past financial irregularities in the company’s accounts.

Monday, April 27th, 2015 No Comments »

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