nited Breweries Holdings Ltd (UBHL), the holding company of former liquor baron Vijay Mallya’s UB Group, said it appointed Ajay Kumar Vijay chief financial officer with effect from April 20.
Vijay succeeds Ravi Nedungadi, who retired last month after reaching prescribed retirement age. (more…)
The Aurangabad bench of the Bombay high court on Wednesday gave the state government two days to clear its stand on snapping water supply to beer, liquor industries and distilleries in Marathwada. (more…)
It is the magic formula – when no party has anything new to offer, it promises prohibition in the state. As the Tamil Nadu General Election approaches, there is not a single party that can expect a comfortable win. The Opposition is fragmented, while the ruling AIADMK has not done itself any favours since the Madras floods. And, so, every campaign speech is rife with promises to ban alcohol in the state. (more…)
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…)
Beer sales across the State have shot up, thanks to the scorching heat. In the first two weeks of this month, beer consumption crossed one crore litres.
According to the Karnataka State Excise Department data, in March 2016, 2.75 crore litres of beer were sold as against 2.06 crore litres in March 2015 — that is, this year we consumed at least 69 lakh litres of beer more than the last. (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…)
Roneli, a joint-stock company of European type Roneli SE and leader in building of turnkey breweries, and Bohemia Beer Pvt. Ltd, joined together to launch the first Czech beer, ‘Bohemian King’ in India. The company aims to become the sixth largest player in the next one year of the Indian beer industry which is approximately pegged at 270 to 280 Million cases. (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…)
To prepare for the poll season, Tasmac has been stocking up on alcohol. For March 2016, Tamil Nadu State Marketing Corporation (Tasmac) ordered 40% more beer than it had in February. The state agency, which controls wholesale and retail liquor trade, also ordered 19% more Indian made foreign liquor (IMFL). (more…)
Just a month ahead of elections in Tamil Nadu, the two Dravidian parties — which have been ruling the state for nearly half a century — have now promised that they would work towards total prohibition. So, whichever party comes to the power after May 16, it is clear that the state is set to become a no-liquor state, but the question is how revenue of around Rs 27,000 crore, which is coming out of liquor sales, will be compensated. (more…)
