Mallya's stepmom to HC: They can’t sell my shares
TNN | Dec 11, 2018, 02:52 ISTHighlights
- Vijay Mallya’s stepmother, Ritu Mallya pleaded in a suit before the Karnataka high court contesting the fugitive tycoon’s offer of settlement with the banks
- Her stated intent is to protect her minority interest in United Breweries Holdings Ltd (UBHL)
Vijay Mallya with Ritu Mallya. (File photo)BENGALURU: Another front has been opened in Vijay Mallya’s legal wrangles in India with his stepmother, Ritu Mallya, impleading herself on Monday in a suit before the Karnataka high court contesting the fugitive tycoon’s offer of settlement with the banks. Her stated intent is to protect her minority interest in United Breweries Holdings Ltd (UBHL).
This development has prompted UBHL to exclude the shares held by Ritu from the Rs 15,000-crore settlement offer made by her stepson. It is unclear exactly how much stake Ritu holds in UBHL. “I had inherited one-third shares when my husband died (in 1983). I have never sold a single share till date, and I have never taken a loan. I don’t have a roof over my head now. I moved the court to protect my interests,” she told TOI.
This development has prompted UBHL to exclude the shares held by Ritu from the Rs 15,000-crore settlement offer made by her stepson. It is unclear exactly how much stake Ritu holds in UBHL. “I had inherited one-third shares when my husband died (in 1983). I have never sold a single share till date, and I have never taken a loan. I don’t have a roof over my head now. I moved the court to protect my interests,” she told TOI.
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