New Delhi: United Breweries Ltd (UBL) had stopped sharing company-related information with erstwhile chairman Vijay Mallya since February after Sebi restrained the fugitive liquor tycoon from holding position as director or key managerial personnel in any listed firm.
Stopped sharing company info with Vijay Mallya since February: UBL
According to a regulatory filing by United Breweries Ltd, although the cessation of Mallya's directorship was communicated to authorities last week, he was asked to step down from the board much earlier this year.
The independent directors at their meeting on February 6 had decided not to send notices and agenda related to board meetings and other "privileged information" till the time Sebi order remained in force, it said.
Two days later, the company's board of directors met and took on record the minutes of meetings of the independent directors.