United Breweries Holdings News

Mallya is at present based in London and extradition proceedings are on to bring him to India as the ED and the CBI are probing parallel criminal cases against him for an alleged bank loan default of Rs 9,000 crore.

Mallya had earlier broken his silence over the controversy surrounding him of defaulting on bank loans to the tune of Rs 9000 crore. 

Market regulator Sebi will pass fresh orders in the matter pertaining to restatement of financial accounts by five companies, including Vijay Mallya-led United Breweries Holdings Ltd (UBHL).

Diageo-controlled United Spirits Friday said it will continue to pursue recovery of loans worth Rs 1,337 crore from its erstwhile promoter group firm United Breweries Holdings through "dialogue or other legal means".

Vijay Mallya-led United Breweries Holdings Ltd on Tuesday said it has been declared a "Willful Defaulter" by Punjab National Bank (PNB) and the company is consulting lawyers to challenge the decision.

Vijay Mallya-led United Breweries (Holdings) Ltd on Friday said it has not defaulted on payment of interest to its erstwhile group firm United Spirits Ltd (USL), a day after USL said it is initiating process to recover dues totalling Rs 1,337 crore.