India Government Blocks Mallya Reappointment

The transcript discusses the rejection of Vijay Mallya's reappointment as chief of Kingfisher Airlines by the Ministry of Corporate Affairs, highlighting the rare nature of such a decision. It details the financial troubles of Kingfisher Airlines, including its grounding due to mounting debt and defaulting on payments. The government's actions against Mallya, including labeling him a wilful defaulter, are outlined. Additionally, Mallya's resignation from the board of Mangalore Chemicals and the rejection of resolutions by United Spirits' shareholders are covered.

What was the reason behind the Ministry of Corporate Affairs rejecting Vijay Mallya's reappointment?

• Kingfisher Airlines was financially unstable.

• He was involved in a legal case.

• The company was sold to another owner.

• He resigned voluntarily.

What was the financial status of Kingfisher Airlines as of December last year?

• It had no debt.

• It had a debt of $1.5 billion.

• It was profitable.

• It was recently launched.

What consequence did Kingfisher Airlines face due to its financial issues?

• It launched a new product line.

• Its stock was suspended from trading.

• It was acquired by another company.

• It expanded its operations.

What impact did Vijay Mallya's resignation have on Mangalore Chemicals and Fertilizers?

• The company merged with another.

• The stock price decreased.

• The stock price increased by nearly 15%.

• The company was shut down.

What decision did the minority shareholders of United Spirits make?

• They approved all resolutions.

• They rejected 9 of 12 resolutions.

• They sold their shares.

• They appointed a new CEO.