Embattled tycoon Vijay Mallya, who is in London to avoid court summons in India, has been made principal officer of United Breweries (UBHL) in the absence of a managing director and is ‘monitoring’ th
Embattled tycoon Vijay Mallya, who is in London to avoid court summons in India, has been made principal officer of United Breweries (UBHL) in the absence of a managing director and is ‘monitoring’ the operations of the company from the United Kingdom.
Mallya, who is the chairman of the company, is wanted in India in connection with loan default of over '9,000 crore from various banks linked to the defunct Kingfisher Airlines, has been based in the UK since March this year.
“In the absence of a managing director, the chairman of the Board, Vijay Mallya has been made the principal officer of the company and has been monitoring the performance of the company through appropriate delegation of duties to various operating executives, who report to him on a regular basis,” UBHL said in a regulatory filing.
The company has been without a managing director since the resignation of V. Shashikanth in May 2014.
It has appointed chief financial officer, Ajay Kumar Kaushik, from April 20, 2016.
According to information available on the BSE, as on quarter ended March 2016, the company had five directors out of which three are non-executive independent directors.
Mr Mallya and Dajlit Mahal are the non-executive non-independent directors.
Kaushik Majumder, who is the senior vice-president legal and company secretary, is the other key management member listed on the BSE.
