indiabusinessview (https://indiabusinessview.com/tag/kingfisher_airlines/)
UB Engineering does not have a board any more as the company announced that its two remaining directors have resigned too. On Thursday, the Vijay Mallya-group engineering company said that Alfred Tuinman, executive director (commercial), had resigned with effect from April 3, 2014. That leaves only one director on board, the managing director JK Sardana. “Under these exceptional circumstances, when there is no Board the Company is unable to convene a Board Meeting…”
United Breweries Holdings is seeking shareholder to increase its exposure, in the form of financial guarantees and security, to Kingfisher Airlines from Rs 7,500 crore to Rs 12,000 crore.
The Deccan Aviation Board will meet today to discuss consultant Accenture’s recommendations on a restructuring proposal. The move will seek to formalize the integration of Kingfisher Airlines and Deccan Aviation. In both companies, the Vijay Mallya promoted UB Holdings owns a majority stake.