In depth coverage of Kingfisher crisis from Business Today
Kingfisher Crisis
Vijay Mallya, United Breweries Group chairman

The move piles pressure on Vijay Mallya who is also being pursued by domestic banks for not meeting loan-repayment obligations linked to his Kingfisher Airlines.

The disclosure comes on a day when Mangalore Chemicals and Fertilizers, another UB Group firm, announced Mallya's resignation as a director.
The finance costs of Kingfisher Airlines for the reporting quarter stood at Rs 350.99 crore, against Rs 401.26 crore in the corresponding quarter of the previous year.
Prior to the transaction, Kingfisher Finvest held 7.21 per cent stake in the cash-strapped carrier. It now holds 2.27 per cent.
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