BusinessVijay Mallya's Legal Proceedings In India Now Troubling His US Beer Firm
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Vijay Mallya's Legal Proceedings In India Now Troubling His US Beer Firm
US-based Mendocino Brewing banking on $1 million bridge loan from UBHL
United Breweries Holding is holding firm of Vijay Mallya-led UB Group
In March quarter, Mendocino suffered a net loss of $637,100
Vijay Mallya received a pay package of over Rs 1.7 crore in 2015 from US-based Mendocino Brewing Company.
New York/London: Legal proceedings in India against beleaguered businessman Vijay Mallya have now come to haunt his US-based brewery firm, which is banking on a $1-million bridge loan promised by his holding firm for survival.
"Vijay Mallya, the company's Chairman and indirect majority shareholder, is presently subject to certain legal proceedings in India, which may impair the company's ability to obtain financing from UBHL (United...