Will chair USL AGM this year: Vijay Mallya

Bengaluru: Liqour baron Vijay Mallya on Monday expressed confidence about chairing United Spirits Ltd's Annual General Meeting this year.

"..Will chair USL AGM this year; still have a significant interest in USL," Mallya is said to have informed shareholders at the United Breweries (Holdings) AGM, according to sources present at the meet.

However, the date of USL AGM was not spelt out.

Alleging fund diversion to Kingfisher and other UB group entities, United Spirits' new owner Diageo had asked Mallya to step down as Chairman and Director of the Indian liquor firm, a demand he had rejected outright.

According to sources, Mallya said a candidate for the post of CFO at UBHL has been identified and the appointment will be made shortly, while he was still considering several candidates for the Managing Director's post.

UBHL had earlier disclosed that the company is running without a Managing Director, while it also does not have any Chief Financial Officer.

On auditors note stating that provisions have not been made for the guarantees invoked, sources present at the AGM quoted Mallya as saying, ".... Not made provisions as the company disputes the invocation on guarantees...."