United Spirits News

As the Indian Premier League (IPL) continues to dominate global cricket both in terms of viewership and valuation, the deep pockets behind the glamorous franchises remain a subject of great curiosity. With billionaires, global corporations, and Bollywood stars in the mix, IPL ownership is as glitzy as the tournament itself. Here's a detailed look at the richest franchise owners in the IPL 2025 season:

The decision has been taken after UBHL failed to pay the fine imposed on it.

Sensex Next 50 index measures the performance of the subsequent 50 largest index-eligible stocks outside the BSE Sensex 50.

Markets regulator Sebi has directed brokers to square off all existing open positions in the equity derivatives segment they hold for Vijay Mallya and the six former officials of United Spirits who were banned from the market last week.

Vijay Mallya-led United Breweries Holding Ltd (UBHL) today said it is reviewing SEBI's order barring the beleaguered businessman and six former officials of United Spirits (USL) from securities markets in a case related to alleged fund diversions and will take "appropriate action".

Sebi is all likely to order additional payout for small investors through a fresh open offer concerned over the 'loss' caused to United Spirits' minority shareholders due to $75-million sweetheart deal between its erstwhile promoter Vijay Mallya and new owner Diageo.    

In brewing troubles for Diageo, markets regulator Sebi is mulling directing the British liquor giant to make additional payment to United Spirits' minority shareholders from whom it had acquired shares under an open offer in 2013 to compensate them for some 'preferential' treatment to the erstwhile promoter Vijay Mallya.

A day after United Spirits disclosed Rs 1,225 crore fund diversion by the erstwhile promoters to entities linked to Vijay Mallya, the embattled businessman today said all transactions were "legal and above board" and the company was now making "unfounded allegations".

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Indian liquor baron Vijay Mallya said he has been in talks to enter into a one-time settlement with state-run banks, to which his now-defunct carrier Kingfisher Airlines owes more than USD 1 billion.  

Mallya, known for his flamboyance, says he still is the boss at Force India.

The company said its accumulated losses as on March 31, 2015 at Rs 5,045.45 crore is greater than 50 percent of the peak net worth in the immediately preceding four financial years at Rs 5,849.62 crore.  

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Liquor major United Spirits Monday posted a net profit of Rs 929.3 crore for the second quarter ended September 30, 2015, on the back of Rs 870 crore share sale in United Breweries Ltd.

USL said its Board has asked MD and CEO Anand Kripalu to further probe "possible existence of any other transaction of a similar nature" with certain "additional parties", in which the probe had raised concerns.

Liquor firm United Spirits Ltd (USL) on Wednesday reported a standalone net loss of Rs 1,799.28 crore for the three months ended March 2015 on account of increasing debt and liabilities.