UBL to initiate process to recover Rs 1,337 crore

UK's Diageo group-controlled United Spirits today alleged irregularities and potential violations of law in diversion of funds by the firm's erstwhile promoter Vijay Mallaya-led UB Group and said it is initiating process to recover dues totaling to Rs 1,337 crore.

SC dismisses Vijay Mallya's plea in FERA violation case

The Supreme Court on Monday dismissed liquor baron Vijay Mallya's plea seeking quashing of criminal proceedings against him in a case pertaining to violation of foreign exchange rules.

Supreme Court rejects Vijay Mallya's plea against foreign exchange rules

Meanwhile last week, Diageo-controlled United Spirits Ltd (USL) had exited from Vijay Mallya-led United Breweries Ltd by selling its entire 3.21 per cent stake in the company for Rs 872 crore.

UB Group to hike stake in MCFL; to buy shares from Zuari

Now, United Breweries (Holdings) Ltd (UBHL) has decided to exercise its option whereby both the company and Zuari Group would have equal stakes in MCFL.

Sebi asks Mallya group holding firm to restate accounts

Sebi has asked his group holding company UBHL to restate its financial accounts for two previous years to address issues flagged by the auditors.

United Spirits gets MCA, I-T Dept notices to inspect books

USL said its Board has asked MD and CEO Anand Kripalu to further probe "possible existence of any other transaction of a similar nature" with certain "additional parties", in which the probe had raised concerns.

United Bank says lost hope to recover money from Kingfisher Airlines
United Bank says lost hope to recover money from Kingfisher Airlines

United Bank of India has become the first of the 17 lenders to publicly admit that it no longer expects to recover its dues from the beleaguered Kingfisher Airlines.

Zuari Group acquires additional 36.56% stake in MCFL

UB Group, the original promoter, has 21.97% stake. Together, they will have 75% stake in MCFL.

Zuari says offer to buy over 36% stake in MCFL oversubscribed

After the transfer of these shares, Zuari group would have 53.03 percent stake in MCFL. UB group, the original promoter, has 21.97% stake.

NSE asks USL to make Vijay Mallya probe report public; company refuses

Taking forward its probe into the entire matter, the National Stock Exchange had asked United Spirits Ltd (USL) to provide a detailed report on its inquiry for "the public dissemination purpose".

NSE asks USL to make public fund diversion to Vijay Mallya's UB Group

Alleging fund diversions, United Spirits' new own Diageo had recently asked Vijay Mallya to step down at the Chairman and Director of the Indian liquor firm.

USL may have to restate a/c; investor groups slam Diageo role

Facing a multi-agency scrutiny, Diageo-owned United Spirits may have to restate its financial accounts, even as some investor groups have begun to question the UK-based parent's long silence on allegations against the erstwhile main promoters, Vijay Mallya-led UB Group.

UB entities, others under multi-agency scanner

As Vijay Mallya fights it out with United Spirits to retain his Chairmanship, the role of some top executives, auditors and promoter entities linked to the UB Group have come under scanner of multiple regulatory agencies for alleged irregularities between 2010 and 2013.

Vijay Mallya: From bad to worse for 'King of Good Times'

Things appear to be going from bad to worse for Vijay Mallya, once known as 'King of Good Times', with the board of a company he nurtured into India's largest liquor maker asking him to quit.

Vijay Mallya's boardroom battle casts shadow on USL, UB Group shares

Amid a boardroom battle at Diageo- owned United Spirits to oust Chairman Vijay Mallya, shares of the company as also that of various UB Group firms including long-grounded Kingfisher Airlines fell sharply Monday.

Will discuss the issue bilaterally with Diageo: Vijay Mallya

Liquor baron Vijay Mallya, who has been asked to quit from the chairmanship of the board of Diageo-controlled United Spirits, Monday said he will discuss the issue bilaterally with the world's largest spirits maker.

USL shares down 2.5% as Mallya asked to quit board

The stock lost 2.44 per cent to Rs 3,330 on the BSE, while at NSE, it went down by 2.52 per cent to Rs 3,330.

Vijay Mallya Vs Diageo: SEBI to look into disclosure, other lapses

With liquor giant United Spirits asking its own Chairman Vijay Mallya to quit, markets watchdog SEBI and other regulatory agencies have begun looking into suspected irregularities at the company, including about the alleged fund diversion and disclosure-related lapses.

Vijay Mallya says only shareholders can 'oust' him from USL
Vijay Mallya says only shareholders can 'oust' him from USL

Mallya also said that only "shareholders can 'oust' a Director" and he would continue to function as USL Chairman "in the normal manner".