Vijay Mallya, UB Group chairman, has retained his post as chairman of United Spirits with a majority of the shareholders voting for his reappointment at the annual general meeting on Tuesday. According to the e-voting pattern, Mallya seems to still enjoy the confidence of his shareholders even though he owns a mere 3.3 per cent in the company. The result of the voting will be formally announced in a couple of days. According to sources in the company, the majority of the shareholders used electronic voting to cast their votes. The latest annual general meeting of USL held on Tuesday was keenly watched because auditors had earlier pointed out several discrepancies regarding disclosures by the company management in their notes to annual results.
Read the Hindu Business Line news report here.