Mallya Quits royal challenge, hopes to revive spirits in UK



Vijay Mallya UB group chairman has stepped down as non-executive chairman  of United Spirits Ltd controlled by Diageo Plc,after striking a sweetheart deal with the UK  firm which  agreed to  drop all charges of irregularities under his watch, and pay him $75 million over five years in return for getting him to go.
 
Former Hindustan Unilever veteran M K Sharma has been appointed as the new non-executive chairman of USL, now controlled by London-based Diageo Plc. Mallya, who turned 60 last December, has signed a five-year non-compete agreement and will desist from buying additional shares in USL. Mallya had agreed to sell controlling interest to Diageo, paving the way for a$3-billion takeover in 2012. However, ties between Mallya and Diageo soured soon thereafter with the board taking note of certain related party transactions, which were rejected by the shareholders.

Extra info:
-Recently PNB is the third PSB to declare Kingfisher Airline and its two guarantors a willful defaulters
-Last year SBI & UBI have already declared UB group a willful defaulter.

So lets do
1- Who is current non-executive chairman of UB group?
2- In February which bank declared UB group as willful defaulter?


Source – Times of  India

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Login

OR

Forgot Password?

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Sign Up

OR
Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Forgot Password

Enter the email address associated with your account, and we'll email you an OTP to verify it's you.


Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to
/6


Did not recive OTP?

Resend in 60s

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Change Password



Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Almost there

Please enter your phone no. to proceed
+91

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to Edit Number


Did not recive OTP?

Resend 60

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?