Ub Group

Only an obstinate entrepreneur will stand-up after a big crash and jump to the next venture.

Vijay Mallya saga: How things went awry for UBHL

Liquor baron Vijay Mallya received a major blow from the Karnataka High Court yesterday when it ordered winding up of the United Breweries Holdings Limited (UBHL), the holding company of UB Group for recovery of defunct Kingfisher Airlines losses owed to consortium of bank led by State Bank of India.

SC bench to verify how Mallya's case came up before it

The hearing on allegations by banks that beleaguered businessman Vijay Mallya had allegedly transferred USD 40 million to his children violating court orders, could not take place in the Supreme Court today.

Big blow to Mallya, Karnataka HC orders winding up of UBHL

"This court has come to a conclusion that the respondent company UBHL deserves to be wound up for failure to discharge their duties to pay up their creditors," Justice Vineet Kothari said in his order allowing petitions by banks and aircaft lessors.

Karnataka HC orders winding up of United Breweries Holdings

In yet another blow to Vijay Mallya, the Karnataka High Court ordered winding up of United Breweries Holdings, the parent company of the UB Group. The court said UBHL‘s assets can be sold to recover dues payable by UBHL-promoted Kingfisher Airlines.

2 UB Group cos settled dues just before KFA sought fresh loan

Just a month before the now-defunct Kingfisher Airlines approached the IDBI Bank for a corporate loan of Rs 950 crore in October 2009, two UB Group companies had settled their outstanding dues and obtained 'no dues' certificates from the bank.

No bidder turns up for Mallya's Goa Kingfisher Villa

Goa's plush Kingfisher Villa, where Vijay Mallya has hosted several glitzy parties in the past, failed to attract a single bidder at an e-auction today -- marking yet another failed attempt by lenders to recover dues from the embattled businessman.

USL writes off Rs 566 cr related to dues from UB Group firms

USL said in 2013-14 "certain parties had claimed that they had advanced certain amounts to certain alleged UB Group entities and that the dues owed by such parties to the company would be paid/refunded by them to the company only on receipt of their dues from such alleged UB Group entities".

L'affaire Mallya: More banks get ED call for financial details

Expanding its money laundering probe into L'affaire Mallya, the Enforcement Directorate has asked around half a dozen lenders of Kingfisher Airlines to furnish details of the financial transactions conducted by the long-grounded air carrier and its top executives.

India's bid to bring home tycoon Mallya rebuffed; to keep trying

India failed in its initial attempt to deport debt-strapped Vijay Mallya from Britain but Government assured that seeking his extradition would be an ongoing process

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Vijay Mallya says willing to reach 'reasonable' debt settlement

Mallya, 60, flew first class from Delhi to London on March 2 at a time when the Indian government and mainly state-controlled banks are trying to recover USD 1.4 billion owed by his collapsed Kingfisher Airlines Ltd.

Mallya's group denies he diverted Rs 430 crore loan money

The UB Group said that the loan of Rs 900 crore was extended for legitimate business purposes and assured that it will provide full details of the foreign exchange remittances in the coming days.

Mallya's craft beer firm brews fresh funding in US

California-based Mendocino Brewing Company, which sells a number of beer brands including Kingfisher in the US, has got Mallya as its Chairman and is owned by UB Group through a complex shareholding structure.

Mallya seeks 1-month extension to appear before SFIO: Sources

SFIO and CBI‘s investigation are stuck due to non-cooperation from UB Group companies and lenders, sources tell CNBC-TV18.

Sebi widens L'affaire Mallya probe, finds prima-facie lapses

The capital markets watchdog may also seek information from other regulators in India and abroad, as also from the stock exchanges, as it seeks to de-clog the complex transactions Mallya had entered into, including for sale of stake and transfer of rights in his various group companies.

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.

Sebi rule makes Mallya's board position at Bayer, Sanofi shaky

Mallya recently resigned as chairman and director of United Spirits. He, however, remains on board of various other companies, including those from his UB Group as also a few others, including Indian subsidiaries of some multinational companies.

Sebi to crack whip on wilful defaulters, relax start-up norms

The proposed moves, likely to be discussed by the Sebi board tomorrow, are aimed at safe-guarding the interest of small investors while deepening the capital marketplace to provide new products and avenues for institutions, a senior official said.

SBI seeks Mallya's arrest in Kingfisher loan default case

Top state-run lender SBI today sought arrest of Vijay Mallya, and also impounding of his passport, as the bank approached Debt Recovery Tribunal seeking action against the UB Group promoter for defaulting on loans.

Mallya's 'sweetheart deal' faces Sebi scrutiny

Sebi is looking into the role of United Spirits and its main promoter UK-based Diageo Plc, as also that of Mallya and his group firms that are or have been shareholders in India's leading liquor maker, a senior official said.

Yes Bank invokes United Breweries' shares worth Rs 778 cr

The move comes after State Bank of India (SBI) declared Mallya, Kingfisher Airlines and its holding company United Breweries Holdings, as willful defaulters for defaults on nearly Rs 7,000-crore loans to the long-grounded carrier.

Diageo may not recover Rs 900 cr loan from Vijay Mallya co

The world's largest spirits maker, Diageo, which acquired control of United Spirits (USL) in 2012, had issued a guarantee to Standard Chartered Bank for a USD 135 million (around Rs 900 crore) loan to Watson to release certain USL shares that were to be acquired as part of the deal.

Heineken eyes controlling stake in United Breweries: Srcs

The Dutch brewer, the single largest shareholder in United Breweries with a 42.07 percent stake, plans to take that holding beyond 50 percent by buying shares from liquor baron Vijay Mallya and his group firms, the sources said.