Step down from board, United Breweries asks Vijay Mallya
United Breweries, the maker of Kingfisher beer, has asked Vijay Mallya to step down as its non-executive Chairman, effective immediately. This comes after a SEBI order barred Mallya from holding directorship in any listed company. Notably, SEBI barred Mallya and six former United Spirits executives from accessing the securities market for violating listing agreements, diversion of funds and fraud.