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Heineken becomes majority shareholder in India’s United Breweries

HEINEKEN has acquired an additional 39.6 million shares in United Breweries Limited (UBL), taking its shareholding in the Indian brewer from 46.5 per cent to 61.5 per cent, for £560 million.

The sale was led by a debt recovery tribunal after the shares of the company, which owns India’s top-selling Kingfisher beer, was attached by financial investigation agency Enforcement Directorate, as part of the measures taken against fugitive businessman Vijay Mallya.


Mallya, who has lost an extradition battle in the UK, is facing a money laundering case against the now-defunct Kingfisher Airlines Ltd. He is accused of loan defaults of nearly £1 billion to a consortium of Indian banks led by the SBI.

The extradition of Mallya has been ordered by the Westminster Magistrates Court and confirmed by the UK High Court. Reports in Indian media say that he has applied for asylum after his permission to file an appeal in the Supreme Court is denied.

Kingfisher is the largest beer brand in India and has a presence in over 50 countries including the UK.

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Sanjay Bhandari's extradition appeal opens in London
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SANJAY BHANDARI, a consultant in the defence sector wanted in India on alleged tax evasion and money-laundering charges, began an appeal in the High Court in London against his extradition order.

The 62-year-old businessman had won permission to appeal against a November 2022 Westminster Magistrates’ Court ruling clearing his extradition earlier this year.

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Murdoch's bid to secure eldest son's control of media empire fails

RUPERT MURDOCH’s attempt to secure control of his media empire for his eldest son, Lachlan, has reportedly failed, according to a US news report on Monday.

The Murdoch family, which oversees influential outlets like Fox News, The Wall Street Journal, and various British and Australian media organisations, has often been compared to the fictional dynasty in the TV series Succession. Like the show, real-life disputes within the Murdoch family have centred on control of the business after Rupert Murdoch’s death.

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Kamlesh Pattni faces UK sanctions for illicit gold trade
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Kamlesh Pattni faces UK sanctions for illicit gold trade

THE UK and US have imposed financial sanctions on Kamlesh Pattni, a British-Kenyan businessman with a controversial financial history. The punitive measures target Pattni and four of his close family members, including his wife and brother-in-law, reported the BBC.

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India appoints Sanjay Malhotra as new central bank governor

INDIA has appointed Sanjay Malhotra, a senior finance ministry bureaucrat, as the new governor of its central bank, the Reserve Bank of India (RBI).

The announcement was made on Monday, a day before the term of outgoing governor Shaktikanta Das was set to expire.

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Air India orders 100 more Airbus jets to expand fleet

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