United Spirits Ltd.

Weeks before a London extradition hearing, Vijay Mallya faces a second legal battle after Diageo Plc sued to recover a $40 million payment made when he was ousted from United Spirits Ltd. last year.

United Spirits, controlled by the UK's Diageo group, on Thursday 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 was initiating the process to recover dues totaling Rs 1,337 crore.

Facing a multi-agency scrutiny, Diageo-owned United Spirits Ltd (USL) 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.

As per the latest data compiled by the market regulator Sebi, a total of 60 open offers for shares worth Rs 17,241 crore were made by the companies in 2014-15 -- the second lowest level since 2008-09.

With United Spirits asking its chairman Vijay Mallya to quit, the majority owner Diageo on Monday said its "contractual obligations" to support his presence would not apply in the event of "defaults" by the Indian businessman and his group firm UB Holdings Ltd.

United Spirits Ltd (USL) on Saturday said its minority shareholders have approved a proposal to enter into licensing and cost sharing agreements with certain subsidiaries of its parent Diageo Plc, which was rejected earlier last year.

Minority shareholders of United Spirits Ltd, India's largest liquor firm, have rejected as many as 9 of 12 resolutions, including some pertaining to pacts with entities connected to erstwhile promoter Vijay Mallya.

Vijay Mallya-led Kingfisher Airlines on Monday withdrew its appeal in the Supreme Court seeking to restrain the SBI-led consortium of 17 banks from taking over possession of the 'Kingfisher House' in Mumbai.

Diageo intends to keep United Spirits listed in India even if its offer is successful. The new offer will be launched in June, the statement said.

Up against a regulatory hurdle in the UK over the $2-billion takeover by global liquor giant Diageo, United Spirits' board has approved a plan to sell Whyte & Mackay Ltd (W&M), an indirect wholly-owned subsidiary of the company.

The BSE Sensex erased earlier gains to close flat on Friday, marking a third consecutive weekly fall, as blue-chips such as ITC were hit by profit-booking on continued signs that foreign investors' appetite for domestic shares is starting to wane.

Diageo Plc's Rs 5,441-crore open offer for acquiring 26 per cent stake in Vijay Mallya-led United Spirits has come a cropper with the offer eliciting a tepid response from public investors.

Market regulator Sebi has sought additional details from global liquor giant Diageo with regard to its Rs 5,441 crore open offer for acquiring 26 per cent stake in UB Group firm United Spirits Ltd.

Shares in United Spirits fell sharply on Monday after promoter Vijay Mallya said a deal with UK drinks giant Diageo is not a given.

United Spirits Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 23, 2011 to September 29, 2011 (both days inclusive) for the purpose of Payment of Dividend & 12th Annual General Meeting (AGM) of the Company to be held on September 29, 2011.

Weeks before a London extradition hearing, Vijay Mallya faces a second legal battle after Diageo Plc sued to recover a $40 million payment made when he was ousted from United Spirits Ltd. last year.

United Spirits, controlled by the UK's Diageo group, on Thursday 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 was initiating the process to recover dues totaling Rs 1,337 crore.

Facing a multi-agency scrutiny, Diageo-owned United Spirits Ltd (USL) 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.

As per the latest data compiled by the market regulator Sebi, a total of 60 open offers for shares worth Rs 17,241 crore were made by the companies in 2014-15 -- the second lowest level since 2008-09.

With United Spirits asking its chairman Vijay Mallya to quit, the majority owner Diageo on Monday said its "contractual obligations" to support his presence would not apply in the event of "defaults" by the Indian businessman and his group firm UB Holdings Ltd.

United Spirits Ltd (USL) on Saturday said its minority shareholders have approved a proposal to enter into licensing and cost sharing agreements with certain subsidiaries of its parent Diageo Plc, which was rejected earlier last year.

Minority shareholders of United Spirits Ltd, India's largest liquor firm, have rejected as many as 9 of 12 resolutions, including some pertaining to pacts with entities connected to erstwhile promoter Vijay Mallya.

Vijay Mallya-led Kingfisher Airlines on Monday withdrew its appeal in the Supreme Court seeking to restrain the SBI-led consortium of 17 banks from taking over possession of the 'Kingfisher House' in Mumbai.

Diageo intends to keep United Spirits listed in India even if its offer is successful. The new offer will be launched in June, the statement said.

Up against a regulatory hurdle in the UK over the $2-billion takeover by global liquor giant Diageo, United Spirits' board has approved a plan to sell Whyte & Mackay Ltd (W&M), an indirect wholly-owned subsidiary of the company.

The BSE Sensex erased earlier gains to close flat on Friday, marking a third consecutive weekly fall, as blue-chips such as ITC were hit by profit-booking on continued signs that foreign investors' appetite for domestic shares is starting to wane.

Diageo Plc's Rs 5,441-crore open offer for acquiring 26 per cent stake in Vijay Mallya-led United Spirits has come a cropper with the offer eliciting a tepid response from public investors.

Market regulator Sebi has sought additional details from global liquor giant Diageo with regard to its Rs 5,441 crore open offer for acquiring 26 per cent stake in UB Group firm United Spirits Ltd.

Shares in United Spirits fell sharply on Monday after promoter Vijay Mallya said a deal with UK drinks giant Diageo is not a given.

United Spirits Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 23, 2011 to September 29, 2011 (both days inclusive) for the purpose of Payment of Dividend & 12th Annual General Meeting (AGM) of the Company to be held on September 29, 2011.