Business

United Spirits asks Chairman Vijay Mallya to step down

Bengaluru, April 27: In a big blow to industrialist Vijay Mallya, the United Spirits Limited has asked him to step down from his post as the chairman. On the other hand, the market watchdog SEBI and other agencies have started investigating into the alleged irregularities in the company.

USL, world's second largest spirit and Liquor Company, is a subsidiary of the United Breweries Group. It has sold its stake to the UK based Diageo Plc. Following an inquiry revealed that funds were diverted to various UB group firms including the Kingfisher in the past, Mallya was asked to quit as the chairman and director.

However, Mallya remained defiant and rejected the order to step down. The USL has decided to approach the stakeholders to put pressure on him.

The USL may reveal the findings of the Price water house Coopers (PwC) inquiry to the SEBI.

Market Xcel enters the big Data Analytics Arena

New Delhi : Market Xcel Data Matrix Pvt. Ltd. has forayed into Big Data Analytics a field that presents massive opportunities for the Research Industr...

Now students can personalize their growth using these Apps

New Delhi : A recent study found that 12 percent of youth between the ages of 13 and 17 check their phone every few seconds.It's up to companies to bu...

Mukesh Ambani dethrones Jack Ma, becomes Asia's richest person

New Delhi : Reliance Industries Ltd (RIL) Chairman Mukesh Ambani has surpassed Alibaba Group's Jack Ma to become Asia's richest person.While Ambani wa...

Entrepreneurs 'Unbox' at the 2018 EO South Asia Leadership Conference

Mumbai : Entrepreneurs' Organization (EO), the world's leading peer-to-peer network of successful business owners, brought together over 200 member en...