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Diageo Plc News

10 May 2017

SC directs Home Ministry to ensure Mallya's presence on July 10

India had recently asked Britain to ensure early extradition of Mallya, who is an accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines.

09 May 2017

Big setback for Vijay Mallya: SC finds liquor baron guilty of contempt of court, summons him on July 10

In yet another jolt to absconding businessman Vijay Mallya, the Supreme Court on Tuesday found liquor baron guilty of contempt of court and summoned him on July 10 for transferring USD 40 million to his children in violation of the court's order.

25 Nov 2016

Vijay Mallya files plea for recalling contempt order

Beleaguered liquor baron Vijay Mallya has filed an application in the Karnataka High Court for recalling its order summoning him for allegedly violating an undertaking given by him and his companies not to transfer their equity shares in United Breweries to Diageo Plc.

01 May 2016

Congress criticises Centre for not inquiring Vijay Mallya's transactions

Congress today made a scathing attack on the Centre "for not inquiring" various transactions of money paid to Vijay Mallya by Diageo Plc, including the USD 40 million Sweetheart deal.

05 Apr 2016

Vijay Mallya Case: Diageo Plc files objections against DRT Order

British liquor giant Diageo and two of its subsidiaries today filed their objections in the Debt Recovery Tribunal here against its last month order barring liquor baron Vijay Mallya from withdrawing USD 75 million exit payout by it under a sweetheart deal till the disposal of SBI's case against him over loan default.

11 Mar 2016

Diageo to 'review' DRT order, says $40 million paid to Vijay Mallya

As part of their agreement Diageo agreed to pay Mallya, USD 75 million for stepping down as Chairman of United Spirits and for entering into a non-compete pact.

09 Mar 2016

Have already paid $40 million to Vijay Mallya as part of $75 million deal: Diageo

Asked about the Debt Recovery Tribunal`s (DRT) March 7 order to it not to pay Mallya any part of the severance package till its next hearing on March 28, King said the company was yet to receive such an order.

07 Mar 2016

Double whammy for Vijay Mallya: ED files case, DRT blocks $75 million in Diageo deal

It is feared that Mallya might become a fugitive from law by shifting base to a country where it might be difficult to make him face the Indian laws, officials said.

07 Mar 2016

'Sweetheart deal' turns sour: DRT bars Vijay Mallya from withdrawing $75 mn Diageo money

The tribunal ordered that the amount be attached till the disposal of the original application filed by State Bank of India in 2013.

26 Feb 2016

Vijay Mallya's 'sweetheart deal' with Diageo, United Spirits faces SEBI scrutiny

Vijay Mallya's Rs 515-crore 'golden parachute' to exit United Spirits faces an extensive scrutiny by markets regulator SEBI, which has begun looking into possible violations of corporate governance and other norms because of this deal.

06 May 2015

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".

06 May 2015

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.

United Spirits Limited

03 May 2015

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.

28 Apr 2015

Vijay Mallya escalates war on USL board; Diageo pores over 'contract'

Upping the ante to retain Chairmanship at United Spirits, embattled Vijay Mallya Monday said majority owner Diageo has "contractual obligations" to support his position, even as the British liquor giant said the contract was valid only if there were no "defaults".

27 Apr 2015

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.

27 Apr 2015

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.

27 Apr 2015

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.

27 Apr 2015

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.

26 Apr 2015

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.

United Spirits Limited

05 Mar 2015

United Spirits shuts down manufacturing unit in West Bengal

Liquor major United Spirits has shut down its manufacturing unit at Hooghly, West Bengal citing space constraints and other operational issues.

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