In search of a high: United Spirits to revamp, cut jobs
Company to let go off as many as 350 employees; may shut units, cut out brands15-07-2016
15-07-2016
USL gave evidence of fund diversion by Mallya to regulators, investigating agencies: Chairman
Mallya, who is in self exile in the United Kingdom, has denied these charges that accuse him of siphoning Rs 1,225 cr from the company14-07-2016
USL funds diversion not covered by scope of Diageo's due diligence
It took forensic accounting by EY to spot the irregularities'13-07-2016
Conference Dialln information
United Spirits Ltd has informed BSE regarding Conference Dialln information13-07-2016
Q1 results on July 26, 2016
United Spirits Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on July 26, 2016, inter alia, to consider the Un-audited Financial Results of the Company for the quarter and three months ended June 30, 2016.The decision of the Board will be intimated to exchange soon after the conclusion of the said Meeting.The Trading Window of the Company has been closed from July 1, 2016 and will remain closed till July 28, 2016.13-07-2016
Shareholder activists blast Diageo for Mallya flip-flop
USL disclosed to exchanges additional inquiries have established a Rs 1,225-crore money trail to beneficiaries controlled by Mallya, deployed for funding.11-07-2016
Unaware of United Spirits' additional enquiry, says Vijay Mallya
MUMBAI: Vijay Mallya on Sunday expressed his resentment with United Spirits (USL) saying he is unaware of an additional enquiry by the liquor company on "improper transactions" in the past. USL, formerly owned by Mallya is now controlled by British liquor giant Diageo. "I have absolutely no knowledge about this purported enquiry by E+Y (Ernst & Young or EY) nor the suggested allegations. Surprisingly neither USL nor E+Y have given me any details of the allegations or any opportunity to respond," Mallya said in a statement. It came one day after USL in a post board meet stock exchange filing said that its enquiries revealed fund diversions amounting to Rs 1,225.3 crore. It had initiated enquiries on April 25, 2015, unearthing "past instances of improper transactions concerning USL and its subsidiaries in India including what appeared prima facie, to be diversions of funds from USL and its subsidiaries to various UB Group companies including Kingfisher Airlines", said USL's statement. The carrier shut down in 2012, riddled with cash and debt problems. It sank with an unpaid debt of more than $1.2 billion. "In most cases, the diversion of funds appear to be affiliated or associated with USL's non-executive chairman Dr Vijay Mallya," it added. Then USL was controlled by the UB Group. In July 2013, Mallya sold a controlling stake to Diageo, which later increased its holding to 55 per cent. "I can only reiterate that all transactions were legal, above board and approved by USL Auditors, the USL Board and shareholders. Over and above this...11-07-2016
Vijay Mallya hits out at USL's additional inquiry into fund diversion
Vijay Mallya says he has no knowledge of any such inquiry by USL, reiterating that transactions done by him and his companies were legal10-07-2016
Inquiry finds fund diversion of Rs1,225 cr by Vijay Mallya's firms: United Spirits
United Spirits said its additional inquiry against Vijay Mallya and his associate firms has revealed instances of actual fund diversions amounting Rs1,225.30 crore.09-07-2016
Outcome of Board Meeting
United Spirits Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 09, 2016, has discussed and considered in detail the report submitted by the MD & CEO in relation to the Additional Inquiry.09-07-2016