DRT Ques­tions Di­a­geo’s De­lay in Fur­nish­ing Mallya Pack­age De­tails

The Economic Times - - Companies: Pursuit Of Profit -

Debt Re­cov­ery Tri­bunal (DRT) on Fri­day ques­tioned Di­a­geo about the de­lay in fur­nish­ing de­tails of the $75 mil­lion sev­er­ance pack­age agreed upon be­tween be­lea­guered ty­coon Vi­jay Mallya and the com­pany. “In my ear­lier rul­ing as well, I had di­rected the com­pany to fur­nish the de­tails of the sev­er­ance pack­age... why it has not been placed be­fore this court yet?” DRT Pre­sid­ing Of­fi­cer C R Be­nakana­halli asked the com­pany’s coun­sel dur­ing the re­sumed hear­ing on ap­pli­ca­tions filed by SBI-led bankers’ con­sor­tium. SBI had filed an ap­pli­ca­tion for se­cur­ing first right on the sev­er­ance pack­age Di­a­geo has agreed to pay Mallya for quit­ting as chair­man of USL. — PTI

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