United Breweries Holdings To Propose One-Time Settlement Offer To Banks In Winding-Up Petition
United Breweries Holdings Ltd. (UBHL), the parent company of UB Group, will propose a one-time settlement offer to the State Bank of India (SBI)-led lenders' consortium before the Karnataka High Court, a company official told BloombergQuint on the condition of anonymity.
Last week, the high court had directed UBHL to come up with an offer to settle the matter with the consortium and adjourned the matter till April 4.
On March 7, the UB Group had filed an appeal challenging a February 8 order passed by a single-judge bench, which had directed winding up of UBHL to recover dues payable by the company-promoted, defunct Kingfisher Airlines Ltd.
The creditors, including lead petitioner BNP Paribas, SBI and aircraft lessors and engine makers such as Rolls-Royce and IAE International Aero Engines AG had moved the court to recover dues worth Rs 146 crore.
Vijay Mallya owns more than 50 percent in UBHL.
Earlier the Debt Recovery Tribunal had also ordered the SBI-led consortium of banks to start the process of recovering over Rs 6,203 crore, at 11.5 percent annual interest rate, from the embattled tycoon and his companies in another case involving Kingfisher Airlines.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
