Calcutta High Court stays Jumbo's sale of shares to Mallya

By Our Corporate Bureau | 23 Mar 2005

1
Kolkata: Shaw Wallace & Co's deal to sell its stake to Vijay Mallya's UB Group on Monday was stayed by Justice Kalyan Jyoti Sengupta of the Calcutta High Court on Tuesday. Justice Sengupta passed an interim order directing Shaw Wallace to maintain status-quo with regard to the usage of the brand name and trade mark. This order was passed because Shaw Wallace is yet to complete the terms of the settlement with one R R Modi.

In the proposed terms of settlement, Shaw Wallace was supposed to transfer two flats at Worli, in South Mumbai to R R Modi as part payment in a settlement amount of Rs57 crore. It was proposed in the settlement that the residual amount was to be paid to Modi after the sale of the beer business of Shaw Wallace within seven days.

Shaw Wallace is expected to file its reply before the appeal court on Wednesday.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more