Calcutta High Court stays Jumbo's sale of shares to Mallya
Our Corporate Bureau
23 March 2005
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.