The Hindu : Mallya refutes charges

Online edition of India's National Newspaper
Saturday, Jan 10, 2004

Business

Business - Briefly

Mallya refutes charges

BANGALORE, JAN. 9. The Chairman of United Breweries Group and Member of Rajya Sabha, Vijay Mallya, today denied the reports which appeared in a section of the media that certain acts allegedly committed by companies based in Hong Kong, with which he was said to be connected, would constitute criminal breach of Indian laws. The reports also said these issues were not dealt with by the Hong Kong court.

Mr. Mallya in a statement said, "The facts are that the plaintiffs in the Hong Kong proceedings are Alexina Investments Ltd and Sovereign Nominees Ltd which as the court held are Hong Kong registered companies held by a Trust established decades ago by my late father during his lifetime". Being Hong Kong registered companies, they could not be subjected to Indian laws, he added.

The UB Group Chairman also said "At the instance of Manu Chhabria during his lifetime, I was needlessly and wrongly implicated in the Hong Kong court proceedings as a third party. I defended myself successfully and gave evidence, which was accepted and found credible as held by the judgment. The judge dismissed the application made by the late Manu Chhabria against me and severed criticised his conduct and that of his group". — Our Special Correspondent

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