Vijay Mallya's United Breweries Group to pump $2 mn in loss-making US brewer

Nov 24 2013, 12:14 IST
Comments 0
Vijay Mallya Vijay Mallya
SummaryUBHL is holding company of all the listed entities of Mallya-led UB Group, including Kingfisher.

due to mounting debt and rising losses, as also non-payment of wages.

The lender consortium has been asking promoters to infuse their own funds into Kingfisher, but no headway has been made despite numerous rounds of negotiations and banks have begun a process of recovering their loans worth nearly Rs 8,000 crore.

Kingfisher's accumulated losses have ballooned to over Rs 16,000 crore and it is yet to make a single full-year profit since starting operations in 2005.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...