The Maharashtra government is considering a proposal to stop the supply of water to breweries and distilleries in Aurangabad district due to severe shortage of water, a senior official at the water works department said, on the condition of anonymity. (more…)
Beleaguered businessman Vijay Mallya’s troubles with lenders do not seem to be limited to India, with the global banking major RBS planning to terminate next month a credit line and all other banking services provided to his European beer venture. (more…)
A consortium of banks led by State Bank of India (SBI) on Wednesday filed counter-objections in the debt recovery tribunal (DRT), Bengaluru, against a claim of Rs 594 crore made by the Vijay Mallya-controlled United Breweries (Holdings) or UBHL. Lenders alleged Mallya’s claim to secure the amount from them at this stage was a clear-cut tactic to delay the process of justice, knowing fully well that the case was on the verge of being disposed of. Admitting the lenders’ counter-objections, DRT presiding officer justice CR Benakanahalli posted the matter for further hearing to April 21. (more…)
The Goa government today granted in-principle approval to Vijay Mallya-promoted United Breweries to expand the capacity of its plant in the state by 25 per cent. (more…)
Away from the furore over huge loan default in India by Vijay Mallya-led UB Group, its US-based brewery arm has secured a complex funding that it intends to repay later with a ‘bridge loan’ from its parent. (more…)
United Breweries (Holdings) Ltd (UBHL) said on Friday that Sidhartha Mallya, a non-executive, non-independent director of the company, has left his post with effect from 31 March. UBHL announced the exit of chairman Vijay Mallya’s son in a filing to the BSE. (more…)
Beermaker United Breweries has said the Kingfisher logo that belonged to Kingfisher AirlinesBSE 3.03 % can only be used for aviation and warned of legal challenges if it is used in other categories. (more…)
Troubled tycoon Vijay Mallya may offer his shares in United Breweries (UBL) to partner and Dutch beer giant Heineken to generate cash for a possible settlement with lenders of the defunct Kingfisher Airlines. If the lenders respond positively, the latest development offers Heineken a clear opportunity to gain controlling ownership of UBL, the largest domestic brewer and the last big Indian company which Mallya helms. (more…)
Amid speculations that Heineken could take control of Vijay Mallya-led United Breweries Ltd, the Dutch beer maker today said its increasing stake in UBL to 43 per cent recently will not result in any changes in Indian brewer’s governance structure. (more…)
Businessman Vijay Mallya on Wednesday offered his debtor banks Rs. 4000 crore as partial settlement of his dues, even as he confirmed in the Supreme Court that he does not want to come home yet due to “surcharged atmosphere” against him fuelled by media reports. (more…)
