Sidhartha Mallya, son of UB Group chairman Vijay Mallya, has resigned as non-executive, non-independent director of United Breweries (Holdings). His resignation is with effect from March 31, 2016, the company said in a filing to Bombay Stock Exchange.
“In terms of the provisions of Section 167(b) of the Companies Act, 2013, Sidhartha V Mallya has vacated the office of director,” the company said.
Incidentally, the 28-year old Sidhartha Mallya was reappointed as director at the 99th annual general meeting of the company held on September 28, 2015. He was first appointed as director of the company on May 7, 2005. After retiring as director by rotation, he had sought reappointment and was elected at the AGM.
Vijay Mallya continues to be the chairman of UBHL, in which he holds a majority 52.34% stake. UBHL is primarily engaged in holding of strategic investments and other securities, international trade, development of real estate, sale and rental of constructed premises including residential property of Kingfisher Towers, licensing of trade marks, advancing of loans and provision of guarantees.
Born on May 7, 1987, Sidhartha V Mallya is an American citizen. He holds a bachelor of science degree from Queen Mary University, London. He has expertise in marketing and brand development. He is also director on other companies such as Kamsco Industries, Mallya Private Limited, Royal Challengers Sports Private Limited, The Gem Investment and Trading Company Private Limited and United Mohun Bagan Football Team Private Limited.
Earlier, this week, Vijay Mallya tried to keep his son away from all kinds of controversies by appealing to people through his twitter handle not to attack and abuse his son. Sidhartha Mallya, who has not shown interest in his father’s business, is currently pursuing film career in Hollywood. He is currently undergoing a drama course in London.