Ubs Group

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  UBS Group Buys IDFC Shares Worth Rs 88 Crore Via Bulk Deal

  UBS Group buys IDFC shares worth Rs 88 crore

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  Found Fund Diversions By Vijay Mallya Entities: United Spirits

  United Spirits Ltd (USL) said an additional inquiry into its past financial statements has uncovered actual and potential fund diversions linked to its former chairman Vijay Mallya.

• Deepak Fertilisers Raises Open Offer Price for Mangalore Chemicals to Rs 194 Crore

  Deepak Fertilisers has raised its open offer price for acquiring another 26 per cent stake in Vijay Mallya-promoted Mangalore Chemicals and Fertilizers Ltd (MCFL) to Rs 63 per share, aggregating to Rs 194.12 crore.

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  Vijay Mallya Loan Default Case: Ex-IDBI Bank Chief Among 8 Arrested, Says Report

  Meanwhile, the UB Group spokesperson also confirmed the visit of the CBI officials to their offices and stated that they were cooperating with them.

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  Vijay Mallya to Challenge Wilful Defaulter Tag, but May Face Turbulent Days

  IDBI Bank is considering declaring Mallya a "wilful defaulter", the bank's chairman MS Raghavan told Reuters yesterday. State Bank of India and Punjab National Bank are among other big lenders who have given loan to the grounded carrier, which has not flown since October 2012.

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  United Spirits Board Orders Probe Into Loans to UB Group Companies

  The board of United Spirits Ltd, now controlled by Diageo, has ordered a probe into the loans given by United Spirits to UB Group companies as it posted net loss of a whopping Rs 4,488.77 crore for the financial year ended March 31, 2014.

• BSE, NSE to Shift 2 UB Group Firms to Restricted Trade Segment

  Under 'Z' segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.

• UB Group's Prakash Mirpuri Resigns

  UB Group vice president for corporate communications Prakash Mirpuri has resigned after over seven years of association with the Vijay Mallya-led conglomerate, according to industry sources.

• Mangalore Chemicals Surges 20% As Deepak Fertilizers Ups Open Offer Price

  Currently Deepak Fertilizers hold a little over 25 per cent stake in MCF and Vijay Mallya's UB group holds around 22 per cent while Zuari Agro Chemicals holds around 16 per cent stake in the company.

• UB Group Beer Unit, ITC Milk Processing Plant in Bihar Get Cabinet Nod

  The Bihar cabinet on Tuesday approved investments worth Rs 320 crore in a beer manufacturing unit by the UB Group and a milk processing plant by ITC.

• Deepak Fertilizers Gets Fair Trade Regulator Nod to Buy Stake in Mallya's MCFL

  The approval from the fair trade watchdog also paves the way for Deepak Fertilizers to make the open offer to acquire further 26 per cent stake in Mangalore Chemicals and Fertilisers Ltd (MCFL).

• UB Group, Zuari Team Up to Seek Control of Mangalore Chemicals

  Vijay Mallya's UB Group today joined hands with the Zuari group to ward off a hostile takeover bid by Deepak Fertilisers for Mangalore Chemicals and Fertilizers (MCFL) and offered to buy more shares in the firm at a 9 per cent higher rate than their rival.

• USL's Independent Directors Committee Terms Diageo Offer Fair

  The open offer Diageo made in April last year met a lukewarm response from shareholders of USL, India's top spirits maker with brands including Signature, Bagpiper, Antiquity and Royal Challenge, and it picked up a 25.02 per cent stake for Rs 5,235.85 crore.

• Srei Group Firm Sells 22 Lakh United Spirits Shares for Rs 597 Crore

  India Global Competitive Fund, part of Kolkata-based Srei group, on Friday offloaded nearly 22 lakh shares in United Spirits for a little over Rs 597 crore.

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  Credit Suisse Takeover Eases Crisis Fears, First Republic Shares Sink 50%

  Shares of U.S. lender First Republic tumbled nearly 50% on Monday on fears it will need a second rescue to stay afloat, bucking a broader rally in bank shares driven by UBS Group's state-backed takeover of Credit Suisse.