Bangalore: Chairman of UB (Holdings) Ltd, Vijay Mallya on Tuesday earned a reprieve from appearance in Karnataka high court which kept its order in abeyance for a week after the company promised to submit its audited statement of accounts relating to a share-sale deal.
The court on Monday directed Mallya to personally appear with his passport on Tuesday as the company had failed to adhere to the direction issued by it earlier.
Instead of submitting audited statement of accounts of repayments, expenses and taxes, among others, vis-a-vis sale of shares of United Spirits Limited to global spirits major Diageo Ltd, as directed by the court on May 24, UBHL, on Monday, submitted a certificate of auditors, over which Justice Ram Mohan Reddy expressed deep displeasure.
17/09/13 Times of India
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The court on Monday directed Mallya to personally appear with his passport on Tuesday as the company had failed to adhere to the direction issued by it earlier.
Instead of submitting audited statement of accounts of repayments, expenses and taxes, among others, vis-a-vis sale of shares of United Spirits Limited to global spirits major Diageo Ltd, as directed by the court on May 24, UBHL, on Monday, submitted a certificate of auditors, over which Justice Ram Mohan Reddy expressed deep displeasure.
17/09/13 Times of India
