Financial Daily from THE HINDU group of publications
Tuesday, Mar 08, 2005
Financial Daily from THE HINDU group of publications Tuesday, Mar 08, 2005 |
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Corporate
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Outlook Kishore vows to stay in liquor biz Boby Kurian
Bangalore , March 7 BREAKING his silence at the end of an 11-year court battle, Mr Kishore Chhabria said he will continue to play a major role in the Indian spirits business even as he indicated plans to shift his base abroad. "I will remain active in the business," Mr Chhabria told Business Line, while adding that BDA Ltd, owners of Officers Choice Whisky, was likely to see a major restructuring in the days to come. He rejected speculation that he would sell BDA and settle abroad. Replying to a specific query whether he was planning to become a non-resident Indian, Mr Chhabria said: "I may do that. But not in the next three months." He said that as part of the settlement, BDA's Rs 29-crore trade dues to Herbertsons and the Chennai-based Balaji Group, an associate of Mr Vijay Mallya, has been written off. BDA is also expected to gain almost Rs 3 crore as Herbertsons pays up the cumulative final dividend, which was not paid for the last seven years.
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