As UB Group continues to face growing shareholder activism, its Chairman Vijay Mallya resigned as a director of group entity MCFL.
United Bank has declared Kingfisher Airlines ‘wilful defaulter’ for defaulting loan of Rs 350 cr.
The price has risen from Rs 73.78 on September 25 to Rs 102.65 shooting well above the offer price of Rs 93.6 before slipping back to Rs 95.
Charles MacLean, the world’s leading authority on whiskey, likes his scotch but doesn’t mind some of the Indian blends with a nip of water.
United bank is first PSU lender to initiate process of declaring Vijay Mallya, KFA as wilful defaulters.
The airline counsel submitted that they would challenge the GRC order before the concerned High Court.
United Bank of India’s move might threaten Mallya’s position on the board of the group companies as it might impact their ability to raise funds from banks.
First lender to take such a step after KFA chief fails to appear before internal committee.
Even as Diageo is looking to increase its stake in USL, Vijay Mallya’s stake in company is under threat.
In a takeover bid, Deepak Fertilisers on April 23 raised its stake in Mangalore Chemicals to 25%.
SBI-led consortium claims Vijay Mallya, Kingfisher Airlines are liable to pay dues of Rs 5,772 cr.
SBI-led consortium seeks direction to UBHl to deposit USL proceeds with court
Adventz Group chairman Saroj Poddar has not ruled out a counter-offer for MCF by his Zuari Fertilisers.
Deepak Fertilisers has increased its stake in Mangalore Chemicals & Fertilizers to over 25 pct.
Mallya also praised opener Parthiv Patel for giving a good start for the team to chase the target.