United Breweries ltd Chairman Vijay Mallya may soon be declared a Wilful defaulter according to Times of India. Leading public sector banks like State Bank of India, Punjab National Bank and Union Bank of India which means the Board could ask him to step down.
The flamboyant Billionaire known for his colorful lifestyle also started his own airline company Kingfisher airlines which turned out to be utter failure. Also he owns the Indian Premier League cricket team Royal Challengers Bangalore and is the team principal of Sahara Force India Formula One racing team.
Diageo PLC already has a major share in UB Group and would certainly like to rethink where they stand in all this mess. With so many legal problems mounting over Vijay Mallya, it did not help when it came to public relations and the frequent blunders that he committed. Watching car races from his luxury Yacht and drinking ridiculously expensive liquor in one of the most expensive hotel while many of his employees of Kingfisher airline had not received their salary for months did not go well. It seems this Mary Antoinette of India quite possibly is reaching the end of line with regards to his flagship company which Vijay Mallya made so successful.
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