British liquor giant, Diageo and Vijay Mallya, Chairman of UB group, on Thursday signed a settlement agreementthat absolves Mallya of claims over diversion of funds from United Spirits to other UB group firms, including Kingfisher Airlines. But the transaction comes at a huge cost to USL’s minority shareholders as the Indian company will no longer take any action on the recovery of Rs 2,100 crore from various UB group entities.
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