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Kingfisher - A Nightmare: Vijay Mallya
By: Tupaki Desk | 30 Sep 2016 4:22 AM GMT
Liquor Baron Vijay Mallya shared his views to the shareholders through a video message at the 100th Annual General Meeting of United Breweries Holding Limited (UBHL). 'Kingfisher which was known to be the queen of skies with best service and air connectivity has now turned out to be nightmare. The business failure is due to high fuel prices, Government's adverse taxation and engine malfunctions,' he opined.
Mallya wondered why he has been accused of stealing Rs 6,000 crore without any legal basis. He mentioned Government kept attaching his properties in India and issuing threats of further action. He assures to his shareholders that all the allegations will be challenged in the courts of law. 'Business is all about success and failure. Sadly, Government Agencies ignore this fact in few cases,' complains the RCB Owner.
Since April 17th 2014, UBHL don't have a Managing Director. Hence, Board Chairman Vijay Mallya is acting as Principal Officer of the company. He even reviewing the firm's performance at the Board Meetings even though he shifted base to London.
Mallya wondered why he has been accused of stealing Rs 6,000 crore without any legal basis. He mentioned Government kept attaching his properties in India and issuing threats of further action. He assures to his shareholders that all the allegations will be challenged in the courts of law. 'Business is all about success and failure. Sadly, Government Agencies ignore this fact in few cases,' complains the RCB Owner.
Since April 17th 2014, UBHL don't have a Managing Director. Hence, Board Chairman Vijay Mallya is acting as Principal Officer of the company. He even reviewing the firm's performance at the Board Meetings even though he shifted base to London.
