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Force India boss Mallya sacked from United Breweries board
India's United Breweries has fired indebted Force India Vijay Mallya from his non-executive chairman role following an order from the country's market regulator, it said in a stock exchange filing late Wednesday. The UB Group said the Securities and Exchange Board of India (SEBI) has barred Mallya from holding key managerial roles in any listed company. Mallya, who made Kingfisher beer a global brand, was known for his flamboyant lifestyle and styled himself as the 'King of Good Times'. He owes banks at least $1 billion, fleeing to Britain last March as pressure grew from banks to pay back the loans. Mallya has repeatedly failed to appear before investigators at the Enforcement...
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8y ago from GrandPrix247.com
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