UBL management backs Mallya for continuing as chairman

08-09-2016

Bengaluru: Coming out in support of the embattled liquor baron Vijay Mallya, the United Breweries Ltd management today said he would continue as UBL chairman despite reports that ED had attached his shares in the firm.

UBL has sought legal opinion from a former chief justice of India, Company Director Chug Yogendra Pal, who chaired its AGM here, said while replying to a query.

Pal said that as per law, Mallya can continue as the chairman.

He further said that, as of now, the Enforcement Directorate (ED) had "not attached" any properties and shares of UBL and Mallya is not disqualified to be the chairman of the company.

The backing comes in the wake of reports that Mallya would lose his position as chairman after the seizure of his shares in UBL by ED.

 

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