India. Naming Mallya wilful defaulter fraught with challenges, RBI role crucial

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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…)

India. United Breweries: the beer drought ends

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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…)

India. Shares of liquor makers fall as Goa plans to ban alcohol consumption in public places

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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…)

India. UBL plans to launch Kingfisher Buzz in all major cities by December

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Beer maker United 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…)

India. Wilful defaulters case…UB, Mallya seek legal representation

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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…)