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Diageo News

25 May 2019

Diageo wins $135 mn claim against Mallya in UK court

Diageo is seeking a total of USD 175 million from the 63-year-old businessman and was successful in one aspect of that claim as it was awarded a "summary judgment" by Justice Robin Knowles, who dismissed Mallya's reliance on an alleged oral promise from Diageo dating back to February 2016.

20 Sep 2017

Diageo sees impact on sales from Indian highway liquor ban

India`s top court imposed a ban on liquor outlets within 500 metres of national and state highways in April, a move that could impact revenue for liquor makers such as Diageo and Pernod Ricard.

27 Jul 2017

Diageo asks Mallya to return USD 40 million, seeks compensation

Diageo's agreement with Mallya also provided for the five-year global non-compete, non-interference, non- solicitation and standstill commitments.

17 Jul 2017

Diageo holds $35 million payment to Vijay Mallya

British liquor giant Diageo has decided to withhold remaining USD 35 million due to Vijay Mallya as part of the USD 75 million (Rs 515 crore) sweetheart deal for his exit from United Spirits Ltd, a source familiar with the development said.

United Spirits Ltd

30 May 2017

USL to start selling properties previously owned by Vijay Mallya

United Spirits Ltd (USL) plans to sell 13 properties, earlier owned by its former Chairman and promoter Vijay Mallya, who has failed to buy back within an agreed deadline.

10 May 2017

Vijay Mallya transferred money to put it out of court's reach: Supreme Court

The transfer of USD 40 million Vijay Mallya had received from British firm Diageo to his three children reflected the beleaguered businessman's intent to put the funds beyond the reach of the courts, the Supreme Court has said.

03 Mar 2017

SC to hear banks' plea against transfer of $40 million by Vijay Mallya

The Supreme Court on said it would hear next week the plea of a consortium of banks that USD 40 million, which liquor baron Vijay Mallya had allegedly transferred to his children, needed to be brought back.

31 Jan 2017

Reviewing Sebi ban order against Mallya, 6 USL officials: UBHL

Vijay Mallya-led United Breweries Holding Ltd (UBHL) today said it is reviewing SEBI's order barring the beleaguered businessman and six former officials of United Spirits (USL) from securities markets in a case related to alleged fund diversions and will take "appropriate action".

26 Jan 2017

Vijay Mallya's sweetheart deal: Sebi may soon order additional payout for small investors by open offer

Sebi is all likely to order additional payout for small investors through a fresh open offer concerned over the 'loss' caused to United Spirits' minority shareholders due to $75-million sweetheart deal between its erstwhile promoter Vijay Mallya and new owner Diageo.

24 Nov 2016

Supreme Court to hear detailed affidavit on Vijay Mallya assets today

The Supreme Court will hear the detailed affidavit about the assets of liquor baron Vijay Mallya on Thursday.

25 Oct 2016

Supreme Court asks Vijay Mallya to give complete details of his foreign assets in 4 weeks

The court also told Mallya to disclose what he did with USD 40 million he had received from Diageo.

31 Jul 2016

Vijay Mallya deals brings Diageo under Sebi lens

In brewing troubles for Diageo, markets regulator Sebi is mulling directing the British liquor giant to make additional payment to United Spirits' minority shareholders from whom it had acquired shares under an open offer in 2013 to compensate them for some 'preferential' treatment to the erstwhile promoter Vijay Mallya.

10 Jul 2016

Vijay Mallya refutes USL's allegations on fund diversion

A day after United Spirits disclosed Rs 1,225 crore fund diversion by the erstwhile promoters to entities linked to Vijay Mallya, the embattled businessman today said all transactions were "legal and above board" and the company was now making "unfounded allegations".

18 Jun 2016

ED to strengthen its investigation on Diageo management

18 May 2016

Vijay Mallya hurt the system, his own class of businesses: Arun Jaitley

Finance Minister Arun Jaitley has said that absconding liqour baron Vijay Mallya has hurt the system as well as his own class of businesses.

17 May 2016

DRT directs J P Morgan Bank not to disburse $40 mn to Vijay Mallya

In another blow to beleaguered businessman Vijay Mallya, the Debt Recovery Tribunal (DRT) Tuesday directed New-York based J P Morgan Bank not to disburse to him USD 40 million of the USD 75 million sweetheart deal struck between him and Diageo PLC.

17 May 2016

More trouble for Vijay Mallya: DRT directs Diageo not to disburse $40 million to him

The Debt Recovery Tribunal (DRT) on Tuesday directed Diageo Plc not to disburse USD 40 million of the USD 75 million deal to Vijay Mallya.

12 May 2016

Diageo submits Vijay Mallya's settlement deal to debt recovery tribunal

In what could further tighten Vijay Mallya's position, Diageo has submitted the settlement agreement to debt recovery tribunal (DRT).

03 May 2016

Diageo can increase it's cut in United Spirits

Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.

23 Mar 2016

Will retire from Chairmanship of Sanofi India: Vijay Mallya

Beleaguered liquor baron Vijay Mallya Wednesday announced he will retire as Chairman of Sanofi India and will not seek reelection as a director of the drug maker, nearly a month after he signed a sweetheart deal with Diageo to step down as Chairman of United Spirits Ltd.

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