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Vijay Mallya’s Son Sidhartha Quits As Director of UB Holdings

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Sidhartha

New Delhi: Liquor baron Vijay Mallya's son Sidhartha has quit as a director from the board of United Breweries (Holdings) Ltd, a firm that holds investments in companies such as United Spirits and United Breweries.

"Mr Sidhartha V Mallya, a non-executive, non-independent director of the company has vacated the office of director with effect from March 31, 2016," UBHL said in a statement to the Bombay Stock Exchange on Friday.

The development comes days after Mr Mallya took to Twitter to ask people not to target his son Siddharth.

"My son Sid @sidmallya does not deserve all this abuse as he had nothing to do with my business. Slam me if you must but not a young man," tweeted Mr Mallya on Wednesday.

The same say, he had made an offer to banks struggling to recover more than a billion dollars from his now defunct Kingfisher Airlines: he will arrange to repay Rs 4,000 crore by September. Mr Mallya's lawyers submitted a copy of the details to the Supreme Court today, which has given banks a week to respond.

Mr Mallya's uncomplicated exit from the country earlier this month incited political recriminations, with the opposition asking why the liquor baron who dubbed himself "The King of Good Times" was able to travel abroad at a time when banks are desperate for his airline, which stopped functioning in 2012, to repay its loans.

On Twitter, which he uses regularly, Mr Mallya, who is in the UK, has stressed that he is a parliamentarian who will obey laws and is not escaping his debts; however, the 60-year-old has refused to comply with two orders to make himself available for interrogation in Mumbai.

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