Deviinvestments Private Limited

Total Page:16

File Type:pdf, Size:1020Kb

Deviinvestments Private Limited DEVIINVESTMENTS PRIVATE LIMITED Registered Office ROOM NO.7, 2NDFLOOR, DOSSA MANSION, 1/6, SIR P M ROAD, FORT, MUMBAI - 400 001 Tel: 022-40069530 E-Mail: [email protected] CIN: U67210MH1977PTC019662 April 8, 2021 The Department of Corporate Services 8SE Limited r" Floor, New Trading Ring Rotunda Building, P.J. Towers Dalal Street, Fort Mumbai 400 001 ([email protected]) The Department of Compliance National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex Bandra (E] Mumbai 400 051 ([email protected]) Dear Sirs: Sub: Disclosure in compliance with Regulation 30 (2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 As a member of the Promoter Group of United Spirits Limited, Bengaluru, we enclose our disclosure as of March 31, 2021 in the prescribed format in compliance with Regulation 30(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Thanking you, Yours faithfully, For Devi tnvestments Private Limited ~ Director Enel: Cc United Spirits Limited, UB Tower, UB City, 24 Vittal Mallya Road, Bengaluru 560 001 ([email protected]) DISCLOSURE UNDER RE~ULATIONS'30(1) AmnO(2) OFSEBl"(SOBSTANTIAL ACQUISITION-oFSHARES AND TAKEOVERS) REGULATIONS, 2011 Part A - Details of Shareholding 1 Name of theTarget Company (TC) UNITED SPIRITS LIMITED 2 Name(s) of the stock exchange(s) where the shares of BSE limited the TC are listed National Stock Exchange of India limited 3 Particulars of shareholder(s): a) Name of person(s) together with Persons Acting in Concert (PAC) whose total holding (including-that in the form of shares, warrants, convertible securities and any other instrument that N.A. would entitle the holder to receive shares in the TC) is more than 25% of the voting rights of the TC OR b) Name(s) of promoter(s), member of the promoter group and Devi Investments Private Limited PAC with him. Dr. Vijay Mallya Mallya Private Limited Vittal Investments Private Limited Rossi & Associates-Private Limited United Breweries (Holdings) Limited Kingfisher Finvest India Limited RELAYBV 4 Particulars of the shareholding of person(s) mentioned at (3) Number % w.r.t, total % w.r.t. total diluted above of shares share/coting capital share I voting capital wherever applicable ofTC As of March 31, 2021, holding of a) Shares Devi Investments Private Limited - 0.00 NA Dr. Vijay Mallya 62,550 0.01 NA Mallya Private Limited - 0.00 NA Vittallnvestments Private Limited 1,56,350 0.02 NA Rossi & Associates Private Limited 1,75,560 0.02 NA United Breweries (Holdings) Limited 55,68,895 0.77 NA Kingfisher Finvest India Limited - 0.00 N.A. RELAYBV 40,64,47,245 55.94 NA b) Voting Rights (otherwise than by shares) Nil Nil NA c) Warrants Nil Nil N.A. d) Convertible Securities Nil Nil NA e) Any other instrument that would entitle the Nil Nil N.A. holder to receive shares in the TC TOTAL 41,24,10,600 56.76 N.A. PartB Name of the Target Company .•U- nited Spirits Umited Name of the person and Persons Acting in Concert (PAC) with the Whether the person belongs to person Promoter I Promoter Group Devi Investments Private Limited YES Dr. Vijay Mallya YES Mallya Private Limited YES Vittal Investments Private Limited YES Rossi & Associates Private Limited YES United Breweries (Holdings) Limited YES Kingfisher Finvest India Limited YES RELAYBV YES FofDEVI "lNVESTMSt.,NS PRIVATE LIMITED Place: Mumbai - .tL Date : r April 08, 2021 DIREC OR DEVIINVESTMENTS PRIVATE LIMITED Registered Office ROOM NO.7, 2NDFLOOR, DOSSA MANSION, 1/6, SIR P M ROAD, FORT, MUMBAI - 400 001 Tel: 022-40069530 E-Mail: [email protected] CIN: U67210MH1977PTC019662 April 8, 2021 The Department of Corporal, Services BSE Limited 1st Floor, New Trading Ring Rotunda Building, P.J. Towers Dalal Street, Fort Mumbai 400 001 ([email protected]) The Department of Compliance National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex Sandra [E] Mumbai 400 051 ([email protected]) Dear Sirs: Sub: Declaration in terms pf Regulation 31(4) of Securities and Exchange Board of India (Substantial Acqulfition of Shares and Takeovers) (Second Amendment) Regulations, 2011 - United Spirits Limited In terms of Regulation 31(4} of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations,.2011, .~. hereby declare that the Company has not made any encumbrance, directly or indirectly, other than those already disclosed during the Financial Year as on March 31, 2021. Kindly treat this as compliance under Regulation 31(4) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2011 and take the same on record. Thanking you, Yours faithfully, For Devi Investments Priv~te Limited ~ Director Cc: The Audit Committee, United Spirits Limited, US Tower, Level 6, US City, 24 Vittal Mallya Road, Sengaluru 560 001 ([email protected]).
Recommended publications
  • Kingfisher Airlines Limited
    KINGFISHER AIRLINES LIMITED ANNUAL REPORT 2012 - 2013 Kingfisher Airlines Limited Registered Office: UB Tower, Level 12, UB City, 24, Vittal Mallya Road, Bangalore - 560 001 NOTICE NOTICE IS HEREBY GIVEN OF THE EIGHTEENTH ANNUAL GENERAL MEETING of the Company to be held at Good Shepherd Auditorium, Opposite St. Joseph’s Pre-University College, Residency Road, Bangalore – 560 025 on Tuesday, September 24, 2013 at 1.30 p.m. for the following purposes: 1. To receive and consider the accounts for the year ended March 31, 2013 and the reports of the Auditors and Directors thereon; 2. To elect a Director in the place of Mr. Subhash R. Gupte who retires by rotation and being eligible, offers himself for re-appointment; 3. To appoint Auditors and fix their remuneration. The retiring Auditors M/s. B. K. Ramadhyani & Co., are eligible for re-appointment. By Order of the Board Place : Goa Bharath Raghavan Date : August 14, 2013 Chief Legal Officer & Company Secretary Notes : 1. A SHAREHOLDER ENTITLED TO ATTEND THE MEETING AND VOTE THEREAT MAY APPOINT A PROXY TO ATTEND AND VOTE ON HIS BEHALF ONLY ON A POLL. SUCH A PROXY NEED NOT BE A MEMBER OF THE COMPANY. The proxy form duly completed must reach the Registered Office of the Company not later than forty-eight hours before the time appointed for the holding of the Meeting. 2. The Register of Members and Share Transfer Books will remain closed from Thursday, September 19, 2013 to Tuesday, September 24, 2013 (both days inclusive). 3. Members are required to intimate immediately to the Company’s Registrars and Transfer Agents, M/s Karvy Computershare Private Limited, 17-24, Vittal Rao Nagar, Madhapur, Hyderabad – 500 081 (Telephone No: 040-44655000, Fax.
    [Show full text]
  • UB Tower, UB City, 24, Vittal Mallya Road, Bangalore – 560001 Unaudited Financial Results for the Quarter and Year Ended March 31, 2011
    UNITED BREWERIES LIMITED Regd. Office: UB Tower, UB City, 24, Vittal Mallya Road, Bangalore – 560001 Unaudited Financial Results for the quarter and year ended March 31, 2011 Rs. In Lakhs (except in respect of items 16 to 18) Unaudited Unaudited Unaudited Audited Three Months Three Year Ended Year Ended Ended Months Ended Particulars 31.03.2011 31.03.2010 31.03.2011 31.03.2010 1 a. Net Sales / 83,959 57,315 2,77,878 1,97,316 Income from operations b. Other Operating - Income - - - 2 Expenditure a. (Increase) / 321 458 (323) (462) decrease in stock in trade and work in progress b. Consumption of 11,497 7,687 35,695 25,216 raw materials c. Consumption of 22,962 15,766 72,467 51,153 packing materials d. Power & Fuel 2,669 1,471 7,127 4,911 Cost e. Purchase of 7,526 5,320 27,419 20,064 traded goods f. Employees cost 3,500 2,630 12,686 9,892 g. Depreciation 3,252 2,565 10,430 8,827 h. Advertisement 13,913 9,824 49,281 37,033 & Sales Promotion i. Selling & 7,854 5,748 25,953 18,891 Distribution j. Other 3,303 1,879 11,805 8,896 expenditure k. Total 76,797 53,348 2,52,540 1,84,421 3 Profit from 7,162 3,967 25,338 12,895 operations before other income, Interest and Exceptional items (1-2) 4 Other Income 2,089 2,246 7,310 7,768 5 Profit before 9,251 6,213 32,648 20,663 Interest and Exceptional Items (3+4) 6 Interest Charges - Interest 2,233 1,379 6,127 6,216 - Exchange - (197) (4) (782) difference - Other Finance 93 69 218 116 Charges 7 Profit after Interest 6,925 4,962 26,307 15,113 but before Exceptional Items (5-6) 8 Exceptional items (1- - 2) - - - 9 Profit (+) / Loss (-) 6,925 4,962 26,307 15,113 from ordinary activities before tax (7+8) 10 Tax expense (2,916) (2,347) (9,509) (5,416) 11 Net profit (+) / Loss 4,009 2,615 16,798 9,697 (-) from ordinary Activities after tax (9-10) 12 Extraordinary items - (net of tax expense - - - Rs.
    [Show full text]
  • Notice of Annual General Meeting
    Notice of Annual General Meeting NOTICE IS HEREBY GIVEN of the Sixteenth Annual General Meeting of the Members of UNITED BREWERIES LIMITED to be held at LEVEL 1, UB TOWER, UB CITY, # 24 VITTAL MALLYA ROAD, BENGALURU - 560001, on Tuesday, September 22, 2015 at 11.00 a.m. for the following purposes: ORDINARY BUSINESS: 1. To receive and consider the Accounts for the year ended March 31, 2015, and the Reports of the Auditors and Directors thereon. 2. To declare a Dividend. 3. To appoint a Director in the place of Dr. Vijay Mallya, who retires by rotation and, being eligible, offers himself for re-appointment. 4. To appoint Auditors and fix their remuneration and in this connection, to consider and if thought fit, to pass with or without modification, the following Resolution as an ORDINARY RESOLUTION: RESOLVED that pursuant to the provisions of Section 139 of the Companies Act, 2013 (the “Act”), the Companies (Audit and Auditors) Rules, 2014, and such other applicable provisions, if any, of the Act and the Rules framed thereunder, the Company hereby ratifies the appointment of Messers S.R. Batliboi & Associates LLP, Chartered Accountants (Firm Registration No. 101049W), as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting and that their remuneration be fixed by the Board of Directors of the Company. SPECIAL BUSINESS: 5. To consider and if thought fit, to pass with or without modification, the following Resolution as an ORDINARY RESOLUTION: RESOLVED that Mr. Sijbe Hiemstra (DIN 00442940), who in terms of Section 161 of the Companies Act, 2013 (the “Act”), holds office till the date of this Annual General Meeting, and in respect of whom a notice has been received from a Member under Section 160 of the Act, be and is hereby appointed as a Director of the Company liable to retire by rotation.
    [Show full text]
  • 560 001 Unaudited Financial Results for the Period Ended June 30,2010
    UNITED BREWERIES LIMITED Regd.Office:UB Tower, UB City, 24, Vittal Mallya Road, Bangalore - 560 001 Unaudited Financial Results for the period ended June 30,2010 Rs. In Lakhs(except in respect of items 16 to 18) Unaudited Unaudited Audited Three months Three months Year Ended Ended Ended Particulars 30.06.2010 30.06.2009 31.03.2010 1.(a) Net Sales/Income from Operations 77,563 56,523 199,745 (b) Other Operating Income - - - 2. Expenditure a. (Increase) / decrease in stock in 501 512 (462) trade and work in progress b. Consumption of raw materials 8,812 4,951 25,216 c. Consumption of packing materials 18,963 15,084 51,153 d. Power & Fuel Cost 1,605 1,197 4,911 e. Purchase of traded goods 7,790 6,295 20,064 f. Employees cost 2,731 2,176 9,892 g. Depreciation 2,351 2,049 8,827 h. Advertisement & Sales Promotion 12,786 10,993 37,033 i. Selling & Distribution 6,940 5,395 18,891 j. Other expenditure 3,749 2,815 11,325 k. Total 66,228 51,467 186,850 3. Profit from Operations before Other Income, 11,335 5,056 12,895 Interest and Exceptional Items (1-2) 4.Other Income 1,823 1,889 7,768 5.Profit before Interest and Exceptional Items (3+4) 13,158 6,945 20,663 6. Interest Charges -Interest 1,342 1,707 6,216 -Exchange translation difference (4) (393) (782) -Other Finance Charges 17 8 116 7. Profit after Interest but before Exceptional Items 11,803 5,623 15,113 (5-6) 8.
    [Show full text]
  • Review Article
    z Available online at http://www.journalcra.com INTERNATIONAL JOURNAL OF CURRENT RESEARCH International Journal of Current Research Vol. 8, Issue, 06, pp.32854-32859, June, 2016 ISSN: 0975-833X REVIEW ARTICLE FROM SKY TO GROUND: A CASE OF KINGFISHER AIRLINE SURVIVAL *Alpana Srivastava Amity Business School, India ARTICLE INFO ABSTRACT The Indian economy is passing from the tough phase, leading to turmoils in various sectors and affecting Article History: th them with negative shocks. One such effected industry with the present economic turmoil in India is Received 17 March, 2016 Aviation Industry. India is one of the fastest growing aviation markets in the world, yet its airlines are deep Received in revised form in the red. All major carriers except Indigo are loss making and are burdened with massive debts.Rising 21st April, 2016 Accepted 26th May, 2016 fuel cost, heavy slide in rupee, low FDI, high interest rates are few factors affecting this sector adversely. Published online 15th June, 2016 Among the various existing Aitlines in India Kingfisher is affected most as its operations were suspended. This case study is taken to explore the various economic, financial and technical flaws responsible to the sudden rise and fall of this airline (2005-2012).Kingfisher Airlines was established in 2003. It is owned by Key words: the Bengaluru based United Breweries Group. The airline started commercial operations in 9 May 2005 Airlines, with a fleet of four new Airbus A320-200s operating a flight from Mumbai to Delhi. It started its Turmoil, international operations on 3 September 2008 by connecting Bengaluru with London.
    [Show full text]
  • United Breweries
    Board of Directors N. Srinivasan S. G. Ruparel Piyush Mankad V. K Rekhi Dr. Vijay Mallya Chairman Sidhartha V. Mallya B. S. Patil M.S Kapur A. Harish Bhat Kaushik Majumder Dr. Vijay Mallya Managing Director Corporate Vice President - Legal Chairman The Team & Company Secretary CONTENTS Report of the Directors 1 Report on Corporate Governance 8 Auditors’ Report 23 Balance Sheet 26 Profit and LossAccount 27 Cash Flow Statement 28 Schedules 30 SignificantAccounting Policies 37 Balance Sheet Abstract 52 Consolidated Financial Statement 54 Left to Right: V. Shashikanth, Subhash R. Gupte, Ravi Nedungadi, S. Ramanujam, and Ashoke Roy Chairman’s Statement Dear Fellow Shareholders, United Spirits Limited (USL): It is a pleasure to be with you at this 95th Annual United Spirits Limited (USL), the flagship alcobev General Meeting of the Company. During the year, Company of the UB Group, achieved global the world progressed hesitantly down a path to leadership of the alcoholic spirits industry by regain economic stability as it emerged from the volume, selling over 113 million cases in FY 11 - a global meltdown of 2008. While the Western world 13% leap over the previous year. The Company’s experienced modest recovery, Asia led by India and tally of “millionaire” brands (ie brands that record China registered high levels of growth. Inflation annual sales in excess of a million cases) rose to has, however, now emerged as the new global 21. This includes its premium grain based whisky economic challenge, manifested by a substantial McDowells No 1 Platinum, which achieved this rise in the prices of almost all commodities.
    [Show full text]
  • 2018-19 LIST of LABEL and Mono-Carton Registered in Mizoram
    1 LIST OF LIQUOR LABELS AND MONO-CARTON REGISTERED IN MIZORAM UNDER MLPC ACT, 2014 FOR THE YEAR 2018-2019 (As on 25 th July, 2018) 1. BEER Name of Company Name of Label Name of Monocarton Registered Supply Source (1) M/s United Breweries Ltd., Level - 1. Kingfisher Premium Lager Beer – 650ml (Cricket -nil - Master India Brewing Company, III, IV & V, UB Tower, UB City, 24 Design) Chowkigate, Changsari, Dist- Kamrup, Vittal Mallya Road, Bangalore – 2. Kingfisher Premium Lager Beer – 650ml Assam-781101 560001, Karnataka. 3. Kingfisher Strong Premium Beer – 650ml (Cricket Design) 4. Kingfisher Strong Premium Beer – 650ml 5. Kingfisher Premium Lager Beer – 330ml 6. Kingfisher Premium Lager Beer – 500ml (CAN) 7. Kingfisher Strong Premium Beer – 500ml (CAN) 8. Kingfisher Premium Lager Beer – 650ml (Cricket -nil - CMJ Breweries Pvt.Ltd., Byrnihat, Ri -Bhoi Design) Dist – 793101, Meghalaya 9. Kingfisher Strong Premium Beer – 650ml (Cricket Design) 10. Kingfisher Premium Lager Beer – 650ml 11. Kingfisher Strong Premium Beer – 650ml 12. Kingfisher Premium Lager Beer – 500ml (can) 13. Kingfisher Strong Premium Beer– 500ml (Can) 14. Kingfisher Strong Premium Beer –500ml (can) United Breweries Ltd., Plot No. B1, Industrial Estate, Khurda, Odisha - 752055 15. Kingfisher Strong Premium Beer –500ml (can) United Breweries Ltd., Plot No. 3 & 3A, RIICO Industrial Area, Mile Stone – 111, NH – 8, Shahjahanpur, Rajasthan – 301706 (2) Devans Modern Breweries Ltd, 1. Godfather Electra Premium Quality Beer Super Strong - -nil - Devans Modern Breweries Ltd., SIDCO Bohri, Talab Tillo, Jammu-180002, 650ml Industrial Growth Centre, Phase II, Samba J&K. 2. Godfather Electra Premium Quality Beer Super Strong- -184121, J & K.
    [Show full text]
  • KINGFISHER AIRLINES CASE STUDY About the Company KINGFISHER AIRLINES LIMITED
    CORPORATE GOVERNANCE CASE STUDY- KINGFISHER AIRLINES PRESENTED BY- AATIF PILPILE AKSHAY R S GOVIND PRIYANKA NEELAM Introduction to Corporate Governance Need of Corporate Governance Corporate Governance in India Kingfisher Airlines Initial Troubles Cause Analysis Aftermath Findings on Corporate Governance OUTLINE Stakeholder Mapping Our Suggestions Wipro- Ethical Company Wipro- Core Values Wipro- What Makes It Ethical? Wipro- Actions Taken Wipro- Awards And Recognition CORPORATE GOVERNANCE Cadbury Committee Corporate governance is the system by which business corporations are directed and controlled. Board of Directors is responsible for the governance of their companies. The shareholders’ role in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate governance structure is in place. Organization for Corporate governance involves a set of relationships between a company’s Economic Co- management, its board, its shareholders and other stakeholders. It provides operation and the structure through which the objectives of the company are set, and the Development means of attaining those objectives and monitoring performance are determined. The Institute of Company Corporate Governance is the application of best management practices, Secretaries of India compliance of law in true letter and spirit and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders. NEED OF
    [Show full text]
  • UBHOLDING-2014-2015.Pdf
    C O N T E N T S Report of the Directors 1 Report on Corporate Governance 28 Independent Auditors’ Report 41 Balance Sheet 46 Statement of Profit and Loss 47 Cash Flow Statement 48 Notes to the Financial Statements 50 Consolidated Financial Statements 81 UNITED BREWERIES (HOLDINGS) UNITED BREWERIES (HOLDINGS) LIMITED LIMITED Directors Dr. Vijay Mallya, Chairman Mr. Sidhartha V. Mallya, Non Executive Non Independent Director Mr. N Srinivasan, Non Executive Independent Director Mr. M S Kapur, Non Executive Independent Director Dr. Lalit Bhasin, Non Executive Independent Director Ms. Daljit Mahal, Non Executive Non Independent Director [w.e.f March 28, 2015] Executive Vice Chairman Mr. S. R. Gupte UB Group President & Chief Financial Officer Mr. Ravi Nedungadi UB Group President Mr. V. Shashikanth Company Secretary and Compliance Officer Mr. Kaushik Majumder Statutory Auditors M/s Vishnu Ram & Co., Chartered Accountants No.12, Margosa Road, Malleswaram, Bangalore – 560 003 Internal Auditors M/s B.K. Ramadhyani & Co, Chartered Accountants 68, 4th Floor, Chitrapur Bhavan, 15th Cross, 8th Main Road, Malleswaram, Bangalore – 460 055 Registered Office UB Tower, Level 12, UB City, No. 24, Vittal Mallya Road, Bangalore – 560 001 Registrars and Transfer Agents Integrated Enterprises (India) Limited No. 30, Ramana Residency, 4th Cross, Malleswaram, Bangalore – 560 003 1 Report of the Directors UNITED BREWERIES (HOLDINGS) LIMITED Report of the Directors The Exceptional gain of ` 965 crores for the year under review is on account of sale of pledged shares by certain Lenders of the Your Directors present the Annual Report of your Company together with the Audited Accounts for the year ended Company to recover their dues.
    [Show full text]
  • ' 1 &£Icjiifid I Or Ins Si
    1 ;,", , ^ ,(§|k_|I$|CQ, $Jp|y|CES ;^^iial'fl||^rts IJbrary; Services - wwwvs^seofnfit I ,'• : i i !«tiK!:^^ ? ?• '17 i • '''?;;•'; -"/ i. • ^lai^llfffllflllllllStyjf4*^--;T^rr-r.;;:'. -";v= :^-,..^';:VV^ .' I-^ ^;: <': •; \';. ^ :\:ii 't^;rH'' 1 • •'rpV^-"-''"''*1 _&£icjiifi::K-''^'': "-'D* '•"i o"-'-r inI s sii : -, UB ' "/";" ' " , (HOLDINGS) LIMITED www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net You will, be pleased to know that the first phase of UB CITY, an Internet-ready, intelligent building complex, has commenced in earnest and will soon be ready for occupation. When completed, this complex covering 7-acres, will redefine the Bangalore skyline in chrome, glass and, greenery. Seamlessly blending modern workspaces and natural flora, UB CITY will house offices, banks, retail, stores, a luxury hotel, serviced apartments, restaurants, pubs, health clubs and cafes apart from multi-level parking areas. In keeping with your Company's record of successful forays into business plans that generate consistent revenue, the theme "Reaching for the sky" aptly describes our future direction. www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net Report of the Directors Report on Corporate Governance. Auditors' Report 21 Balance Sheet 24 Profit & Loss Account 25 Cash Flow Statement 26 Schedules 27 Significant Accounting Policies 34 Balance Sheet Abstract 41 Consolidated Financial Statements 43 www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net = 31 U=3[[l, United Breweries Limited (UBL) The new UBL was carved out as the principal brewing company of the Group on demerger of the beer business from the erstwhile United Breweries Limited, now renamed United Breweries (Holdings) Limited.
    [Show full text]
  • Exploration of Kingfisher Airline's Fiasco
    Pramana Research Journal ISSN NO: 2249-2976 EXPLORATION OF KINGFISHER AIRLINE’S FIASCO (With Reference to Ethical and Governance Issues) Dr. Urvashi Sharma* & Ms. Nancy Rao** *Associate Professor in Department of Commerce, Delhi School of Economics, University of Delhi **Research Scholar in Department of Commerce, Delhi School of Economics, University of Delhi Abstract: The concept of corporate governance is not new to us. This subject has incited interest since 90’s when a series of corporate scams like Enron, Wal-Mart, WorldCom, Satyam etc took place around the globe and raised questions on the management of the company. A similar case of mismanagement has recently occurred in India which is the Kingfisher Airline’s Failure. In this paper we have tried to put a light on to what went wrong with Kingfisher Airlines. Kingfisher Airlines was an Indian based airline group established and started by Vijay Mallya in 2003 which started its commercial operations on May 9, 2005. In a very short span of time, Kingfisher Airlines established itself as a high service-oriented airline and obtained several rewards for its services and also received many awards for being India’s best airlines. However the airline couldn’t retain this position for long due to financial mismanagement, frequent unplanned and unthought-of decisions taken up by the company. This paper attempts to provide a comprehensive and thorough analysis of Kingfisher Airlines, its growth, the financial crisis the airlines had gone through and the inconsistent decisions and strategies adopted by the Airlines which led to the debacle. Keywords: Kingfisher Airlines, Ethical and Governance issues, Mismanagement, Financial Crises.
    [Show full text]
  • Part a Industry Profile
    Part A Industry profile Company profile Mission and Quality statement Mission Statement We constitute a large, global group based in India. We associate with world leaders in order to adopt technologies and processes that will enable a leadership position in a large spectrum of activities. We are focused on assuming leadership in all our target markets. We seek to be the most preferred employer wherever we operate. We recognize that our organization is built around people who are our most valuable asset. We will always be the partner of choice for customers, suppliers and other creators of innovative concepts. We will continually increase the long-term value of our Group for the benefit of our shareholders. We will operate as a decentralized organization and allow each business to develop within our stated values. We will be a major contributor to our National Economy and take full advantage of our strong resource base. We commit ourselves to the ongoing mission of achieving Scientific Excellence. Quality leadership is vital to the long-term success of the UB Group in an increasingly competitive marketplace. Building quality into our workplace, products and service is essential to a successful future for our customers, employees, supplier¶s communities and shareholders. The UB Group will work to provide products and services that always meet or exceed expectations Management will commit resources and create an environment in which each employee can contribute skills, talents and ideas to a never-ending process of improvement and innovation in all aspects of our business. Quality statement Quality leadership is vital to the long-term success of the UB Group in an increasingly competitive marketplace.
    [Show full text]