Vijay Mallya assets: UBL shares worth Rs 100 crore transferred to Centre

Agencies
September 18, 2017

New Delhi, Sept 18: In a trouble for Vijay Mallya, Stock Holding Corporation of India Ltd (SHCIL) has transferred the title and rights of shares worth Rs 100 crore of United Breweries Ltd (UBL), held directly and indirectly by the beleaguered businessman, to the centre.

This is part of the process of confiscating the assets of Vijay Mallya and the Enforcement Directorate has been looking into it, according to media report.

Earlier, the ED had written to SHCIL asking it to transfer the title and rights of un-pledged shares of UBL, United Spirits Ltd (USL) and McDowell Holdings Ltd worth close to Rs 4,000 crore, held by Mallya and his associate firms, under section 9 of the PMLA. Prior to that, in September, 2016, the ED had provisionally attached these shares in connection with the loan default of over Rs 6,000 crore by Kingfisher Airlines. Subsequently, the provisional attachment was confirmed by the adjudicating authority of the agency.

On August, United Breweries Ltd (UBL) had said its Chairman Vijay Mallya has ceased to be director of the company following market regulator Sebi’s order against him.

On January 25 this year Sebi had restrained Mallya from holding position as director or key managerial personnel of any listed company which has not been vacated till date, UBL said in a regulatory filing. “The board at its meeting held today has authorised filing of requisite forms/intimations with the Registrar of Companies and other authorities notifying Vijay Mallya’s cessation from holding position of director in the company,” the company was quoted as said.

In January, the Securities and Exchange Board of India (SEBI) had restrained Mallya and six others from the securities market and also from “buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly” till further directions.

The CBI has two cases against him — one related to the IDBI Bank case and the other related to a loan default of over Rs 6,000 crore filed on the basis of a complaint from a State Bank of India led consortium.

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News Network
January 7,2020

New Delhi, Jan 7: The government has asked public sector undertakings to dissuade their employees from participating in the 'Bharat Bandh' called on Wednesday and advised them to prepare a contingency plan to ensure smooth functioning of the enterprises.

Ten central trade unions have said around 25 crore people will participate in the nationwide strike to protest against the government's "anti-people" policies.

Trade unions INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF, UTUC along with various sectoral independent federations and associations had adopted a declaration in September last to go on the nationwide strike on January 8.

"Any employee going on strike in any form, including protest, would face the consequences which, besides deduction of wages, may also include appropriate disciplinary action," said an office memorandum issued by the government.

"Suitable contingency plan may also be worked out to carry out the various functions of the ministry/department," it added.

It also issued instructions not to sanction casual leave or other kind of leave to employees if applied for during the period of the proposed protest or strike and ensure that the willing employees are allowed hindrance-free entry into the office premises.

The instructions issued by the Department of Personnel & Training prohibit the government servants from participating in any form of strike, including mass casual leave, go-slow and sit-down, or any action that abet any form of strike.

Besides, pay and allowances are not admissible to an employee for his absence from duty without any authority.

The central trade unions are protesting against labour reforms, FDI, disinvestment, corporatisation and privatisation policies and to press for a 12-point common demands of the working class relating to minimum wage and social security, among others.

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News Network
January 9,2020

Dubai, Jan 9: A roadshow promoting Gujarat as an education hub of India will be held here from January 17, officials said.

Representatives of 22 universities and four colleges from Gujarat will be part of the two-day event organised by the Indian Consulate in Dubai.

"The roadshow will provide a glimpse of the thriving education sector in Gujarat and enable the interested candidates to get a first-hand understanding of the rich resources of the state in order to pursue higher education," according to a statement released by the Indian Consulate here on Wednesday.

A delegation led by Gujarat's Education Minister Bhupendrasinh Chudasama will take part in the event under the 'Study in Gujarat' campaign, the statement said.

The Principal Secretary of the state's Higher and Technical Education, Anju Sharma, will participate in the roadshow, which will conclude on January 18.

The participating educational institutions include Pandit Deendayal Petroleum University, Gujarat Forensic Science University, Nirma University, LD College of Engineering, Gujarat Arts and Science College, Vishwakarma Government College and SAL College.

"In the last decade and a half, Gujarat has been successful in establishing its identity as the leading educational hub of India. State of the art infrastructure, safe environment, curriculum at par with international standards and industry exposure gives students an edge during the course of their study," the statement said.

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News Network
July 1,2020

Washington, Jul 1: The United States has approved four coronavirus vaccine candidates for clinical trials, Food and Drug Administration (FDA) head Stephen Hahn told reporters.

"Four vaccines have been approved for moving into clinical trials... and another six are in the pipeline for us to review," Hahn said during a press briefing on Tuesday.

The US Administration launched in May Operation Warp Speed, a joint project of Health and Defense Departments, which aims to deliver 300 million doses of a vaccine for COVID-19 by January 2021.

The country's top pandemics expert Anthony Fauci warned on Tuesday, however, that there is no certainty the United States will be able to develop a vaccine against COVID-19 that works and will be safe.

Data on vaccine effectiveness, he added, may be available in the winter or early next year.

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