Days after Punjab National Bank declared him a ‘wilful defaulter’, embattled businessman Vijay Mallya today appeared defiant saying “PNB is not the only bank and he will do what he has to do”. (more…)
Naming a borrower a wilful defaulter might be an easy thing for a bank to do. However, the real challenge lies in proving that the default was done wilfully, and in a banking system largely driven by paperwork for appraisal and monitoring, there is little a banker can do to establish the ill intent of a borrower. (more…)
Vjay Mallya-led United Breweries Holdings Ltd today said it has been declared a “Willful Defaulter” by Punjab National Bank (PNB) and the company is consulting lawyers to challenge the decision. (more…)
United Breweries Ltd’s fiscal third-quarter profit beat analysts’ estimates by a wide margin on a 13% surge in beer sales in terms of volume. (more…)
Heineken International BV is likely to buy out Vijay Mallya and PAC stake in United Breweries at Rs 920/share, sources say. (more…)
UB’s Ebitda rose by 50.8%, even after accounting for increases in expenses on salaries, promotions and other expenses.
Beer guzzlers went on a binge in the December quarter. What prompted this is not really known, but the industry is not complaining. Sure, there was a low base effect, but not enough to explain the 13% increase from a year ago in the beer industry’s growth. (more…)
Shares of liquor makers such as United Spirits and United Breweries fell in a listless trade on Wednesday on news that Goa is planning to ban consumption of alcohol in public places. Analysts said companies will not be impacted by this move but sentiment in these stocks was hit on worries that other states too, may impose restrictions on consumption of liquor. (more…)
The Ministry of Corporate Affairs has sent a notice to United Spirits Ltd, now majority owned by British liquor firm Diageo, asking why action should not be taken against the company, its former directors and officers, which include its chairman Vijay Mallya. (more…)
Beer maker U
nited Breweries is looking to introduce its recently launched malt-based ready-to -drink (RTD) beverage ‘Kingfisher Buzz’ in all major cities of the country by this year-end.
Kingfisher Buzz is currently available in two flavours – berry and lychee — in Mumbai, Pune and Thane.
The company plans to add more flavours to expand its portfolio in the segment. (more…)
United Breweries (Holdings) Ltd. and its Chairman Vijay Mallya on Friday approached the Delhi High Court, seeking legal representation at a hearing before a State Bank of India (SBI) panel where they would need to explain why they should not be declared wilful defaulters, reports a business daily. (more…)
