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.
May 03, 2015, 14:59 PM IST
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.
Apr 27, 2015, 20:37 PM IST
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.
Apr 27, 2015, 19:11 PM IST
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.
Apr 27, 2015, 18:03 PM IST
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.
Apr 27, 2015, 17:14 PM IST
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.
Apr 27, 2015, 13:02 PM IST
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.
Apr 26, 2015, 18:45 PM IST
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".
Apr 26, 2015, 15:07 PM IST
Diageo asks Mallya to quit USL board; alleges fund diversion
However, Mallya refused to resign and said the inferences and allegations are unjustified and false.
Apr 25, 2015, 20:40 PM IST
Diageo asks Vijay Mallya to step down as Chairman of United Spirits
Diageo, the world's largest spirits maker on Saturday asked Vijay Mallya to resign from the board of United Spirits (USL).
Apr 25, 2015, 20:28 PM IST
Deepak fertiliser sells 12.1% stake in MCFL
Pune-based Deepak Fertilisers has been competing with industrialist Saroj Poddar-led Zuari group for taking control of the MCFL since July 2013.
Apr 13, 2015, 20:07 PM IST
Loan recovery: SBI consortium takes over Kingfisher House
Clamping down on Vijay Mallya-led UB Group to recover loans, a 17-bank consortium led by state-run SBI on Tuesday took over possession of the prized Kingfisher House, estimated to be worth Rs 100 crore.
Feb 24, 2015, 17:24 PM IST
MCFL shares surge over 15% on Zuari open offer
Shares of Mangalore Chemicals and Fertilizers Ltd (MCFL) surged over 15 percent on Friday on industrialist Saroj Poddar-led Zuari group's decision to spend upto Rs 282.19 crore to buy over three crore shares in the UB Group firm through a new open offer.
Dec 05, 2014, 14:22 PM IST
MCFL appoints Mallya's step-mother Ritu Mallya as Director
In a filing to the BSE, MCFL said, "... The company's Board of Directors has appointed Mrs Ritu Mallya as a Director of the Company with immediate effect."
Dec 04, 2014, 17:36 PM IST
Fert Min for continuation of subsidy to closed urea plants
To maintain domestic production of urea in the country, Fertilizer Ministry will soon move a Cabinet note for continuation of subsidy to three closed naptha-based urea plants, including that of a UB Group firm.
Dec 03, 2014, 21:41 PM IST
Vijay Mallya's exit brings fizz to UB stocks; troubles mount further
In an irony of sorts, self-proclaimed 'King of Good Times' Vijay Mallya Tuesday saw shares of his various group companies soar higher even as fresh troubles surfaced in form of the group's holding entity being slapped with yet another 'wilful defaulter' tag.
Dec 02, 2014, 21:07 PM IST
Govt rejects Vijay Mallya's reappointment as Kingfisher MD; quits MCFL board too
In a double-whammy for flamboyant businessman Vijay Mallya, the government has annulled his re- appointment as Managing Director of Kingfisher Airlines while he also had to quit from board of another group company MCFL.
Dec 01, 2014, 20:43 PM IST
Govt says no to Mallya's reappointment as Kingfisher CMD
In a fresh blow to UB Group chief Vijay Mallya, the government has rejected an application by Kingfisher Airlines to re-appoint him as Managing Director.
Dec 01, 2014, 20:16 PM IST
Vijay Mallya resigns from board of UB group fertiliser firm MCFL
In a surprise move, Vijay Mallya has resigned as director from his group firm Mangalore Chemicals and Fertilizers, which is the target of a takeover battle between Deepak Fertilisers and Zuari Group.
Dec 01, 2014, 16:02 PM IST
Stock exchanges to suspend trading in Kingfisher, UB Engineering
Besides, the entire promoter shareholding of these companies have been frozen with effect from today itself.
Nov 07, 2014, 21:44 PM IST
