The maker behind iconic liquor brands such as Royal Challenge, McDowell's and Bagpiper, United Spirits had been in the news for all the wrong reasons after its former chairman Vijay Mallya became a financial fugitive. But the firm's business remains in high spirits with a 45 per cent market share, prompting it consolidate its operations for catering to robust demand. United Distilleries have now the National Company Law Tribunal's approval for a merger with its subsidiary Pioneer Distilleries.
The board of directors at the company had alread approved the amalgamation proposal which was announced back in 2019. The regulatory approval from NCLT has cleared the way for United Spirits to complete the merger.
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