Vijay Mallya exits United Spirits Limited: Interesting facts

Zee Media Bureau

New Delhi: In a deal that puts him on the winning side, Vijay Mallya on Thursday resigned as the chairman of United Spirits Limited but not before pocketing a cool Rs 515 crore.

Exiting the company, Mallya will also not have any liabilities to the company and its alleged financial irregularities.

Here are some interesting facts about the deal between Vijay Mallya and Diageo.

• Diageo will pay USD 75 million (Rs 515 crore) to Vijay Mallya over 5 years in consideration for his resignation.

• Mallya will have not personal liabilities to the company, especially the alleged financial irregularities. It means, he will be free from all such charges.

• He will now become 'Founder Emeritus' of USL and Chief Mentor of RCB.

• Diageo has agreed to retain his son Sidhharth Mallya as Director of the USL Group that runs the RCB cricket team of IPL cricket tournament for at least two years.

• Diageo has extended Smirnoff's sponsorship of the Force India Formula 1 team for the next five seasons.

• Mallya to spend more time in London, close to family.

• The deal will continue to secure the legacy of the Mallya family.