Business Today

Vijay Mallya, Kishore Chhabria settle Officer's Choice dispute for Rs 8 cr

Vijay Mallya-owned United Spirits (USL) and Kishore Chhabria-led Allied Blenders & Distillers (ABD) have agreed to settle their dispute over Officer's Choice.

BT Online Bureau   New Delhi     Last Updated: October 9, 2012  | 20:55 IST

Vijay Mallya-owned United Spirits (USL) and Kishore Chhabria-led Allied Blenders & Distillers (ABD) have agreed to settle their dispute over Officer's Choice.

Both the parties agreed for an out-of-court settlement of the dispute over the ownership of Officer's Choice, the largest-selling whisky brand in the world.

"USL will receive Rs 8 crore from Allied Blenders & Distillers (ABD) - that owns Officer's Choice - in return for withdrawing all court cases claiming right over the whisky, which is the flagship brand of ABD," a media report said.

"Mallya and Chhabria had a deal in the past by which Mallya agreed to part with Offcier's Choice whisky and 130 crore in cash in return for full control of Herbertsons in which Chhabria had a substantial stake," it added.

Shares of United Spirits ended 6.67 per cent higher on the Bombay Stock Exchange on Tuesday, at Rs 1,260.70.

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close