The Telegraph
Since 1st March, 1999
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Kishore ready for Herbertsons deal

New Delhi, Aug. 24 (PTI): The fight between two liquor barons over the ownership of Herbertsons took a new turn with Kishore R. Chhabria making a fresh appeal to Vijay Mallya of UB Group to settle the issue.

“For six years, I have been asking Mallya to come for a settlement. I am asking him again now. But the problem is he is not too serious,” Chhabria said.

Chhabria declined to reveal what a settlement could be, but industry sources say it could be giving Chhabria control of BDA, a 100 per cent subsidiary of Herbertsons, while paying Chhabria for his shares in Herbertsons.

Mallya is currently managing Herbertsons, while Chhabria is chairman of BDA, makers of Officer's Choice.

Chhabria made an open offer to shareholders of Herbertsons to acquire an additional 19.71 per cent stake at Rs 90.50 plus interest following a Securities Appellate Tribunal (SAT) order of August 1, which set aside Sebi's order of 2001.

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