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UB Group News

18 Sep 2016

Vijay Mallya in "full control" even after moving to UK: UB Group

Beleaguered businessman Vijay Mallya remains in "full control" even after relocating to UK, his UB group's holding firm United Breweries Holdings Ltd has said while disclosing remuneration totalling Rs 1.6 crore.

08 May 2016

Sebi expands investigation into financial dealings of Vijay Mallya's listed companies

Market regulator Sebi has extended investigation into possible siphoning of funds by the promoters of various listed companies of Vijay Mallya-led UB Group.

06 May 2016

More trouble for Vijay Mallya; irregularities found in MCFL investments in UB group

A forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.

22 Apr 2016

Vijay Mallya will be brought home to 'face justice', says government

MEA has said that it has received received request from ED regarding deportation of Vijay Mallya

18 Apr 2016

ED’s charges against Vijay Mallya shocking, says UB Group

Rejecting the charge that Vijay Mallya siphoned off nearly Rs 430 crore from the loan extended to Kingfisher Airlines by IDBI bank for acquiring property abroad., the UB Group said it would provide full details of foreign exchange remittances in the next few days.

Kingfisher Airlines

16 Mar 2016

KFA case: CBI quizzes top KFA, UB Group officials for 2nd day

A Raghunathan, Chief Financial Officer of the erstwhile Kingfisher Airlines, and Ravi Nedungadi, former CFO of the UB Group, were summoned to the CBI's Mumbai office again and questioned about alleged diversion of funds, official sources said.

wilful loan defaulters

12 Mar 2016

Another blow to Vijay Mallya: Sebi bars wilful defaulters from markets, posts at listed firms

Besides, Sebi has also decided to bar such defaulters from setting up market intermediaries such as mutual funds and brokerage firms.

04 Mar 2016

Vijay Mallya case: DRT reserves order on SBI plea for lender's right

The judge said other three applications - seeking impounding of Mallya's passport, getting him arrested and getting full disclosure of his assets in the country and abroad - will be heard later.

29 Dec 2015

United Spirits' networth more than halves in 4 years

The company said its accumulated losses as on March 31, 2015 at Rs 5,045.45 crore is greater than 50 percent of the peak net worth in the immediately preceding four financial years at Rs 5,849.62 crore.

23 Jul 2015

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.

13 Jul 2015

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.

13 Jul 2015

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.

31 May 2015

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.

30 May 2015

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.

27 May 2015

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.

25 May 2015

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.

19 May 2015

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.

17 May 2015

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.

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.

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