British liquor giant Diageo Plc today filed an interlocutory application before the Debt Recovery Tribunal seeking vacating of DRT's March seven order barring liquor baron Vijay Mallya from withdrawing USD 75 million exit buy
United Spirits S/L net sales were up 13% y-o-y to R22.8b (est. of R23.3 billion). Gross sales grew 11% y-o-y to R56 billion, excise duty declined 70bp y-o-y (down 120bp q-o-q, primarily due to mix benefit).
Experts at the University of Birmingham today announced that they have developed a unique device that could save lives in countries like India by quickly and simply testing whether water supplies are safe to drink.
British liquor major Diageo Plc on Thursday submitted a copy of its agreement with liquor baron Vijay Mallya to the Debt Recovery Tribunal here, as directed by its presiding officer Justice C.R. Benakanahalli on April 29.
Diageo Plc today challenged Debt Recovery Tribunal's power to direct it to deposit USD 40 million, a part of USD 75 million a payout package signed with liquor baron Vijay Mallya who is facing a multi-agency probe including f
Caught in the controversy surrounding flamboyant businessman Vijay Mallya, British liquor giant Diageo today said it will "review" the Debt Recovery Tribunal's order freezing USD 75-million payout to him out of which has alre
British liquor major Diagio plc on Wednesday confirmed paying Indian industrialist Vijay Mallya $40 million (Rs.275 crore) as part of the $75 million (Rs.516 crore) agreement it entered with the latter on February 25.
Flamboyant businessman Vijay Mallya will get USD 75 million (Rs 515 crore) from Diageo as part of an "agreement" for his exit from United Spirits, a company founded by his family and now run by the global liquor giant.
Diageo says that India's United Spirits Ltd will scale back its roster of more than 150 brands and focus on the faster-growing top end, hoping to bolster its fortunes in a market dominated by cheaper, local names.
Global spirits giant Diageo has said it may not be able to fully recover a loan of USD 135 million given to Vijay Mallya-affiliated Watson Ltd by Standard Chartered Bank where it had acted as a guarantor in case it is asked t