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Support to Vijay Mallya Subject to 'Absence of Defaults': Diageo

File photo: Vijay Mallya of United Spirits
File photo: Vijay Mallya of United Spirits
London/New Delhi: With United Spirits asking its chairman Vijay Mallya to quit, the majority owner Diageo on Monday said its "contractual obligations" to support his presence would not apply in the event of "defaults" by the Indian businessman and his group firm UB Holdings Ltd. A major boardroom battle broke out this weekend at United Spirits Ltd (USL), where UB Group has sold the controlling stake to Diageo, after its board "lost ...
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