Vijay Mallya defaults on pledged shares; loses all but 0.06% stake in United Breweries
Unit Trust of India Investment Advisory Services Ltd (UTI-IAS) has acquired liquor baron Vijay Mallya’s 3.97% voting rights on pledged shares in United Breweries Ltd (UBL) following default.
Post this development, Mallya’s voting rights in the company remain just 0.06%.