Maharashtra govt increases distance between new liquor shops to 1 km
Maharashtra govt increases distance between new liquor shops to 1 km

Maharashtra government has passed a new resolution which increases the minimum distance between new liquor shops from 200 metres to 1 km. The government also asked existent shops to shift if they want to, but they will have to follow the 1km rule. 

The government's motive is to ensure that liquor shops are spread more evenly. This move will eventually discourage people from ordering liquor on phone or social media.

An excise official said, "If any shop is interested in changing location, they will have to take the shop to such an area where no other shop will be within a kilometre. The existing licences will not suffer, but in case they change their partners and decide to move the shop, such an arrangement of 1,000 meters will have to be followed. However, there is no such criterion for permit rooms or bars."

If the existent liquor stores are taking their shops 1km or more away from another shop, they will have to ensure that they remain at least 50 to 100m away from places like hospitals, educational institutions or religious structures.

 
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Greater Than Gin Debuts 180ml GT Minis at 7 Locations
Greater Than Gin Debuts 180ml GT Minis at 7 Locations
 

Greater Than Gin is expanding its reach by introducing 180ml mini bottles to six additional locations, including Pune, Assam, Meghalaya, Mumbai, Puducherry, and Karnataka.

The GT Minis offer consumers a convenient opportunity to try the product without the need to invest in a full-sized bottle.

This is particularly beneficial for the brand because the gin market is still relatively specialized within the liquor industry, and the introduction of 180ml bottles aims to attract new customers.

Furthermore, the Minis will not only be accessible in an extended range of retail outlets but will also be found in numerous dive bars.

“India is a unique market where the 180ml is the largest selling SKU across the spirits segment. As a craft player, while it is challenging for us to find the bandwidth to take on a task of this magnitude, we have a larger commitment to spreading the culture of quality gin as far and wide as possible. The 180ml is poised to take us to many more new consumers, helping us grow the overall Gin category.” said Anand Virmani, Co-founder of NAO Spirits.  

Greater Than Gin is established in 2017, is an innovative and acclaimed craft London dry gin that played a pivotal role in igniting the gin trend in India.

Currently, Greater Than Gin is accessible in 11 states and 3 union territories within India, and it's also distributed in 11 other nations worldwide, with additional expansions in progress.

 

 

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NCLT permits withdrawal of liquidation proceedings against Prag Distillery
NCLT permits withdrawal of liquidation proceedings against Prag Distillery
 

Tilaknagar Industries Limited (TI), an Indian-Made Foreign Liquor (IMFL) producer, made an important announcement regarding their wholly-owned subsidiary, Prag Distillery Pvt. Ltd. (Prag Distillery), has successfully exited the liquidation process, thanks to an order from the National Company Law Tribunal (NCLT).

This order has also authorized the reinstatement of Prag Distillery's Board of Directors, who will now resume the management of operations.

Prag Distillery is situated in Andhra Pradesh and has a bottling capacity of approximately 6 lakhs cases per annum.

Tilaknagar Industries Ltd, renowned for producing the well-known Mansion House brand, had previously reached an agreement with Standard Chartered Bank, the financial creditor of Prag Distillery, to resolve all outstanding debts of the subsidiary.

Pursuant to the agreement, Tilaknagar Industries made a payment of USD 2,250,000 to Standard Chartered Bank on behalf of Prag Distillery.

Tilaknagar Industries further entered into a settlement agreement with DCB Bank Ltd., the sole remaining financial creditor of Prag Distillery, and cleared their outstanding debts completely.

Moreover, Tilaknagar Industries paid approximately Rs 14 crore to settle the claims of all operational creditors of Prag Distillery, even though only three of them had formally submitted their claims to the Liquidator.

Additionally, Tilaknagar Industries resolved all outstanding dues owed to the employees of Prag Distillery, ensuring continued employment for around 100 individuals.

As part of the settlement process, Standard Chartered Bank, with unanimous approval from stakeholders, approached the liquidator to withdraw the application filed against Prag Distillery.

Subsequently, the liquidator filed an application with the National Company Law Tribunal (NCLT) to officially withdraw Prag Distillery from the liquidation proceedings.

Exercising its discretionary authority, the NCLT issued an order declaring the conclusion of liquidation for Prag Distillery Pvt Ltd and enabling the reinstatement of the company's Board of Directors.

 

 

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Ivan Menezes, India-Born CEO of Liquor Giant Diageo, Passes Away at 63
Ivan Menezes, India-Born CEO of Liquor Giant Diageo, Passes Away at 63
 

Ivan Menezes, the CEO of Diageo, the largest spirits maker globally, has sadly passed away at 63 in London, England.

His death occurred shortly after being hospitalized for treatment, following a brief illness.

Menezes experienced a "significant setback" over the weekend due to complications, as stated by Diageo. Diageo, renowned for producing popular alcoholic brands such as Guinness, Smirnoff, Gordon's gin, and Johnnie Walker whisky, issued this statement.

On Monday, the company made an announcement stating that Debra Crew, the CEO-designate, would take on the role of CEO on an interim basis, while Menezes continued to receive treatment.

Menezes played a crucial role in fostering growth at Diageo and skillfully guided the company through numerous successful acquisitions.

Following the impact of the COVID-19 pandemic on the hospitality industry, Menezes spearheaded a remarkable recovery effort that resulted in Diageo's net sales value surpassing the 2019 figures by an impressive 36 percent.

Under Menezes' leadership, Diageo emerged as a dominant force, accounting for around 10 percent of the total food and beverage exports of the United Kingdom, as per the company's evaluations.

Recognizing his contributions to business and equality, Menezes was knighted earlier this year in the inaugural New Year's honours list by KingCharles III.

 

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The Walk' at Worldmark Aerocity in High Spirits, resumes liquor service
The Walk' at Worldmark Aerocity in High Spirits, resumes liquor service
 

The Government permitting liquor to be served at restaurants from September 9 is a much welcome decision after a five plus month hiatus.

‘The Walk’ at WorldmarkAerocity, home to some of the top gourmet restaurants, cafes, and bars in Delhi-NCR is geared up to serve its customers with their favourite drink once again along with world class delectable food keeping safety and comfort in mind.

With only half of the seating capacity being permitted and contactless dining already in place, Worldmark is taking all possible measures to ensure a comfortable and convenient dining experience in a safe and hygiene environment for its customers.

Also Read: 4 ways allowing bars to open will help restaurants to overcome Covid-19 losses

However, it has laid down a strict code of safety measures to ensure the highest standards of health and hygiene for customers and servers. As a part of its COVID safety rules, no customers would be allowed to enter without mask and entry would be allowed only post thermal screening.

“This is a much desired step, as this will help in generating more employment; many will get their livelihood back now; people are looking forward to getting back to normalcy but only with an assurance of safety. Safety being the top-most priority, we are all set to welcome and provide a pleasant experience to our customers,” said Mohit Pruthi, Head of Retail and Marketing at Bharti Realty.

Worldmark’s signature dining establishments such as Plum by Bent Chair, Le Reve- French bistro, Kampai, Dragonfly, One8, La Roca, Farzi Café, Kylin, Punjab Grill, Underdogs, Café Delhi Heights are all set to serve their customers with their specialties.

May Interest: Unlock 4.0: Bar owners pour happiness after Delhi govt announced re-opening

WorldmarkAerocity, in line with government guidelines has also put in place special protocols like contactless temperature screening, touch-free sanitizer dispersion, contactless dining, effective crowd management to allow physical distancing, periodic sanitization of common surfaces and several other steps for diners to feel safe and secure inside the premise.

 

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In order to grow its market in France, Italy's Campari eyes to buy French liquor firm Rhumantilles
In order to grow its market in France, Italy's Campari eyes to buy French liquor firm Rhumantilles
 

Campari, an Italian drinks group, is in discussions to acquire French firm Rhumantilles SAS. This acquisition will help Campari to expand its rum business and grow its market in France.

French liquor firm Rhumantilles, owned by Compagnie Financiere Chevrillon and a group of minority shareholders, produces Caribbean Rhum Agricole brands through its Bellonnie & Bourdillon Successeurs (BBS) unit. The company makes Mauny, Trois Rivieres and Duquesne rhums.

Rhum is a specific type of rum drink that is only made in the Caribbean.

The Italian firm said that the net sale of Rhumantilles was 24.1 million euros.

Campari stated, "Rum was a premium category "at the heart of the mixology trend and growing cocktail culture. Moreover, France is poised to become one of the group's strategic markets and with this acquisition, Campari group has the opportunity to add significant critical mass in this market."

Campari is the world's sixth largest spirits company. It owns over 50 brands, including Aperol, Grand Marnier and Wild Turkey bourbon. 

 

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Replacing holographic stamp in liquor with barcoded stamps can be easily counterfeited: ASPA
Replacing holographic stamp in liquor with barcoded stamps can be easily counterfeited: ASPA
 

The Authentication Solution Providers' Association (ASPA) has claimed that the Uttar Pradesh excise department's move to replace holographic liquor tax stamps with plain barcoded stamps can be easily counterfeited and can lead to ill-fated hooch tragedies.

The association has directed the state government to review the existing excise policy and to implement a solution recommended by experts and bodies of the global anti-counterfeiting industry. 

In compliance with the move to implement track and trace technology according to the state's 2018-19 excise policy, the Department of Excise, Uttar Pradesh, replaced secured holographic liquor tax stamps with plain bar coded stamps devoid of any physical security features.

UK Gupta, President of ASPA, said, "We request the state government and state excise to review the existing excise policy and implement a solution that is recommended by experts and bodies of the global anti-counterfeiting industry. This will help in ensuring consumer safety, easy identification of genuine products, plugging leakages in supply chain and enhancing revenue for the exchequer."

 

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गोवा के बारों को दी गई चेतावनी, लगाना होगा 'Don't drink and drive' का बोर्ड
गोवा के बारों को दी गई चेतावनी, लगाना होगा 'Don't drink and drive' का बोर्ड
 

गोवा में आबकारी विभाग ने सभी लाइसेंस्ड बार और शराब विक्रेताओं को 'Don't drink and drive' का साइन लगाने का आदेशा दिया है। इनमें शराब देने वाले रेस्टोरेंट भी शामिल हैं।

आबकारी अधिकारियों को भेजे गए परिपत्र में कहा गया है, 'सभी तालुका आबकारी निरिक्षकों को निर्देश दिया गया है कि वे अपने अधिकार क्षेत्र के भीतर सभी शराब लाइसेंस धारक परिसरों को सूचित करें कि वे दीवार पर 'Don't drink and drive' का बोर्ड लगाएं या इसे दीवार पर पेंट करवाएं।

आबकारी के सहायक आयुक्त, सत्यवान भिवेट ने कहा, 'आबकारी अधिकारियों को एक मार्च तक आदेश का अनुपालन कर ये देखना होगा कि लाइसेंस्ड प्राप्त आउटलेट ने दिए गए अनिवार्य संकेत लगा लिए हैं या नहीं।'

यह फैसला बढ़तीं सड़क दुर्घटनाओं को देखते हुए लिया गया है। राज्य सरकार ने शराब पीकर गाड़ी चलाने के अलावा खुले में शराब पीने पर भी पाबंदी लगाने का ऐलान किया है।

 

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'Don't drink and drive' signages made compulsory for all bars in Goa
'Don't drink and drive' signages made compulsory for all bars in Goa
 

Excise department in Goa has ordered all licensed bars and liquor vends, including restaurants serving alcohol, to display 'Don't drink and drive' signages.

The circular send to excise officials stated, "All taluka excise inspectors are hereby directed to inform all liquor licence holders within their jurisdiction to display 'Don't drink and drive' board by fixing on the wall or should be painted on the wall of the licensed premises."

Sataywan Bhivshet, Assistant Commissioner of Excise, said, "The excise officers should submit compliance of the order by March 1 by ensuring that licensed liquor outlets have put up the mandatory signages."

The decision has been taken in view of the spate of road accidents. The state government has declared a crackdown on drunken driving as well as drinking alcohol in open.

 

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Alcobrew Distilleries eyes Rs 1,000 crore turrnover by FY21
Alcobrew Distilleries eyes Rs 1,000 crore turrnover by FY21
 

Liquor firm Alcobrew Distilleries is targeting a revenue of Rs 1,000 crore by fiscal 2021 as it expands its distribution reach and product offerings in India and overseas.

The company is further looking to invest about Rs 100 crore in the next two-three years for establishing a malt distillation and saturation plant and towards marketing of the brand.

Romesh Pandita, Chairman and MD of Alcobrew Distilleries, said, "We are looking at closing the current financial year with Rs 500 crore turnover and are looking at doubling it to Rs 1,000 crore at the end of 2020-21. We will achieve this growth as we deepen footprint in India, explore new markets overseas and also introduce new products and premium variants of existing brands."

Alcobrew Distilleries reported a net turnover of Rs 350 crore in the previous fiscal. Currently, the company only sells whiskey. But, it is eyeing at getting into rum and brandy products as well.

 

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Maharashtra Government Plans to Start Home Delivery of Liquor
Maharashtra Government Plans to Start Home Delivery of Liquor
 

The Maharashtra government is planning to introduce a policy that will allow the online sale and home delivery of liquor in the state. Maharashtra is likely to be the first Indian state to come up with such kind of policy in the country.

Chandrashekhar Bawankule, Minister of State for Excise, said, "The main objective is to reduce growing cases of drunken driving due to which there have been many accidents and resulted in great loss of lives. The alcohol would be delivered home through platforms similar to national and international e-commerce websites. Just like citizens are getting groceries and vegetables at home."

Aadhar card will be mandatory for the purchase of beer online. The sellers would be directed to take complete details of customers, which would include Aadhaar numbers, through which their identity can be verified.

"The bottles of booze will be tracked using geo-tagging from their manufacture to sale. The tagging would be done on the cap of the bottle. We can track the bottle all the way from the manufacturer to the consumer. It would help curb the sale of spurious liquor and also smuggling," Bawankule further stated.

 

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Consumption of liquor in Karnataka grown by 77% in 11 yrs
Consumption of liquor in Karnataka grown by 77% in 11 yrs
 

The consumption of liquor in Karnataka has grown by 77% and the excise revenue by a staggering 273% in the past 11 years.

The sale of alcohol, the Indian Made Liquor (IML) and beer, surged from 468.8 lakh boxes in 2007-08 to 830.6 lakh boxes in 2017-18. While revenue raised from Rs 4,812 crore in 2007-08 to Rs 17,948.5 crore in 2017-18. This shows that sales or consumption of liquor reported a 7% annual average growth in the 11 years, and revenue 25%.

The excise duty on liquor has remained constant on alcohol with just one hike of Rs 5 in 2016-17, which was only for IML.

Presently, a litre of beer attracts Rs 10 as excise duty and 150% of AED on the declared price. While a litre of IML attracts Rs 50 as excise duty and AED in the range of Rs 144 and Rs 2,246.

SL Rajendra Prasad, Joint Commissioner of Excise, said, "The excise department is expected to raise revenue and it is achieved through various duties imposed on products. Also, the target set for the excise department is increased every year; the past four targets have been at least Rs 800 crore more than the previous year. For the current year, the target was revised twice: Siddaramaiah increased it to Rs 18,750 crore in February, and it was subsequently revised to Rs 19,750 crore in July."

 

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Pincon Spirits aims to expand footprint to four new southern markets
Pincon Spirits aims to expand footprint to four new southern markets
 

Liquor company, Pincon Spirits, which reported Rs 1561.72 crore revenue in FY16-17, is looking at doubling its revenue to Rs 3000 crore by 2020 as it continues to focus on mass market segments.

According to the company, there is big opportunity for growth of players like Pincon Spirits as large liquor companies are vacating low-priced segment focus on premiumisation.

In the current fiscal, Pincon Spirits is eyeing 20 per cent revenue growth through new product launches, entering new markets and consolidating its manufacturing operations and increase brand spending.

The spirits maker also plans to expand its footprint to four new southern markets of Kerala, Puducherry, Goa and Tamil Nadu.

The company said, "In the current fiscal, it will launch new whiskey in 10 states and enter Kerala."

The company, which also sells edible oils, is looking at widening its FMCG presence from 9 states to pan-India.

Pincon Spirits has charted out a capex of Rs 300 crore during the current fiscal in enhancing distilleries capacity, increasing retail chain and expanding footprint.

 

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Carlsberg strengthen beer portfolio
Carlsberg strengthen beer portfolio
 

Carlsberg has launched new range of Tuborg Classic to strengthen its strong beer portfolio.

The brand has launched the Tuborg Classic in Maharashtra, and will expand to other markets in the next few months.

“Today, consumers appreciate the distinctive quality and taste of premium beers. Keeping in line with the trends, we have launched Tuborg Classic, a brew made with Scotch Malts offering a stronger & smoother taste,” shares Michael Jensen, MD, Carlsberg.

Carlsberg which is the third largest player in the Indian market has launched the new variant to compete with rivals United Breweries (UB) and SABMiller.

 

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?FHRAI considers filing review petition on SC's liquor ban order
?FHRAI considers filing review petition on SC's liquor ban order
 

The Federation of Hotel and Restaurant Association of India (FHRAI) is considering to file a review petition on Supreme Court's order of banning sale of liquor within 500 metres of highways across the country from March 31.

Pradeep Shetty, member of FHRAI's legal committee, said, "We are considering filing a review petition on the matter. We believe we can have a better hearing now. Previously, we didn't get enough time for the hearing and we feel we were caught in the crossfire of liquor associations."

Members of western states such as Maharashtra, Goa, Gujarat, Chhattisgarh and Madhya Pradesh, and union territory of Daman and Diu met to take stock of the matter.

Diu saw a bandh on Monday, with 7,000 people participating in the protest. In Diu, 100 bar licensee holders have been affected due to the ban and the confusion because of a district road which got notified as a highway in 2014.

Yatin Fugro, representative of the local Diu Hotels Association, said, "We were told a major district road got notified as a highway in 2014 and no one was aware of this including our district magistrate. The fight is against the national highway and not just the liquor ban in Diu."

Riyaaz Amlani, president of the National Restaurant Association of India, said states such as Delhi and Haryana have started the process of measuring the distance between highways and hotels.

Manbir Chaudhary, President, Hotels and Restaurant Association of Haryana, said, "We met the Haryana government officials yesterday and they have agreed to consider the motorable distance for measuring the distance between highways and hotels. The process is on. There are 194 bar licensees across Haryana in 22 districts."

Industry experts said the measurement procedure, which will be state specific, can lead to a series of litigation disputes in high courts.

Shetty said, "I can foresee about 50-100 new litigation disputes in high courts as a result of this measurement parameters, which could be different in each state. Parameters could vary depending on how the distance will be measured and from where."

Aashish Gupta, EO of the Federa consultant CEO of the Federation of Associations in Indian Tourism & Hospitality, said the process of measuring the distance is on in certain states and the federation has requested that motorable distance be taken into account. Industry associations are meeting various state officials, he said.

 

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?WB govt asks liquor distributors to resume supply to retailers
?WB govt asks liquor distributors to resume supply to retailers
 

The meeting between state finance and excise officials and representatives of the West Bengal Foreign Liquor Manufacturers (WBFLM), Wholesalers and Bonders Association has concluded on a positive note, with both groups eager to reach a consensus.

The state government has asked the distributors to resume normal supply to retailers, to which they have agreed. The association has requested the state government to think about a rehabilitation package for liquor distributors. Sources said the government has asked the association to prepare the blueprint for such a scheme.

The problem arose with the state government forming the West Bengal State Beverages Corporation Ltd, which will take up the wholesale trade of IMFL (Indian-made foreign liquor) and country spirit from April.

Both distributors and retailers complained that this transition period led to a shortage of liquor ahead of Holi, when consumption and demand escalate.

The state liquor distributors' body had sought a one-year time for migrating to the state government-led distribution of IMFL.

Hiranmay Gon, the secretary of the association, informed that after Tuesday's meeting that the state government had assured them of taking all un sold stocks from distributors and help the association realise the members' dues.

Gon added, "We were asking for a rehabilitation scheme and the state government has told us to prepare one."

Shiv Sultania, Director of East India Spirits and Distributors, said the wholesalers were happy with the meeting's outcome.

He added, "The state government, though, has made it clear that there is no chance of a rollback of the decision."

As of now, distributors have Rs 400 crore due to the retailers. There are about 10 manufacturing units engaged in production of IMFL in the state.

 

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JSBCL to extend its control over the retail alcohol sales
JSBCL to extend its control over the retail alcohol sales
 

The Raghubar Das government is set to take direct control of the retail sale of alcohol in Jharkhand.

The state cabinet, headed by chief minister Raghubar Das has approved the excise department's proposal to open state-run licensed liquor shops across non-scheduled areas from August 1.

The 11-member cabinet also approved the excise department's proposal to not renew the licenses of existing retail liquor stores and not issue licenses to new applicants.

Avinash Kumar, Secretary of the department, said "The Jharkhand State Beverage Corporation Limited (JSBCL) was regulating the whole liquor sales in the state. The JSBCL will extend its control over the retail alcohol sales as well."

Kumar said private control of the retail liquor sales has been causing heavy revenue losses to the government. "The new retail stores will be opened as per necessity," he added. At present, there are more than 1,432 licensed retail liquor stores in the state.

The Das cabinet has also approved 36 proposals from various government departments. It sanctioned Rs 119.34 crore for a new urban planning and management institute building in Ranchi, Rs 30.99 crore for new a municipal corporation building in Deoghar and Rs 48 crore for a new Ranchi Municipal Corporation building.

The cabinet further amended the state higher and technical education department's regulations to incorporate career advancement scheme (CAS) to facilitate promotions of teachers of various state-run universities. It sanctioned Rs 50 crore for boosting poultry farming run by women self-help groups across districts.

The cabinet also sanctioned Rs 254.16 crore for Jharkhand Bijli Vitran Nigam Limited (JBVNL), for implementing unfinished work under Deen Dayal Upadhyay Gram Jyoti Yojana in Latehar, Palamu and Garhwa districts.

 

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Maharashtra to ban Liquor sale in plastic bottles from 1st April
Maharashtra to ban Liquor sale in plastic bottles from 1st April
 

Sale of liquor in plastic bottles has been banned in Maharashtra with effect from 1st April this year, fearing it might harm the health of consumers, the state government has told the Bombay High Court.

Government Resolution to this effect was issued on 11th January 2016, a pleader representing the state informed the bench headed by Justice V M Kanade which yesterday heard a public interest litigation seeking a ban on sale of liquor in polyethylene terephthalate bottles or plastic bottles, reported PTI.

Accordingly the bench disposed of the PIL filed by Global Enviro Solutions, an NGO, saying that nothing survived in the PIL as the government had banned sale of liquor in plastic bottles. The PIL alleged that plastic material was soluble and migrated into the stored alcohol causing cancer to consumers.

The petition said that no time limit or expiry date was mentioned on the plastic bottles, and added that liquor becomes carcinogenic when stored in plastic bottles. The petitioner produced reports of National Test House, a government lab, to show that antimony (poisonous chemical) increases when liquor was stored in plastic bottles.

Sanjay Gorwardkar and Sadhna Mahashabde, lawyers for Global Enviro Solutions, said that the Centre needs to consider the reports that the petitioners had produced, which point to the dangers of such plastic packaging for liquor.

Milind Sathe, the senior counsel representing bottle manufacturers, argued that Union government has constituted an expert committee comprising scientists to examine the effect of liquor or medicine storage in plastic bottles.

He said that the Centre has already notified draft plastic disposal rules which would take care of the activists' concern about improper disposal.

In the meantime, during the course of hearing of PIL, the petitioner submitted a representation to the state government which issued the GR last month to ban the sale of liquor in plastic bottles.

 

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United Spirits profit rose to Rs 929cr this quarter
United Spirits profit rose to Rs 929cr this quarter
 

United Spirits, one of the largest breweries in the world has reported a net profit of Rs 929 crore for the quarter ended September, against loss of Rs 26.9 crore a year ago, helped by exceptional gain from United Breweries stake sale. The company's profit rose 121 per cent to Rs189.4 crore without exceptional items, reported PTI.

India's largest liquor firm also reported 4.3 per cent year on year increase in total income at Rs 2,151 crore.

United Spirits, now controlled by the world's largest spirits maker Diageo, appointed Sanjeev Churiwala as its chief financial officer, effective 16th November 2015.

Sanjeev comes from Ambuja Cements where he was the CFO since four years and replaced by Vinod Rao, Finance Director at Asia Pacific at Diageo, who was serving as interim Head of Finance since the past few months.

 

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AB InBev makes higher £70bn bid for SABMiller
AB InBev makes higher £70bn bid for SABMiller
 

Anheuser-Busch InBev, the world's biggest brewer has increased its takeover offer for rival SABMiller to around 70 billion, reported by Sky News.

On Monday, AB InBev made a fourth bid to SABMiller's board, worth the equivalent of about $108 billion or 95 billion euros.

It quoted market sources as saying the offer was "around 43.50" per SABMiller share. Both companies refused to comment.

AB InBev, Belgian-Brazilian titan which produces Budweiser and Stella Artois lagers, had last week offered $103 billion for the British group that makes Foster's and Grolsch. But SABMiller discarded it as too low, despite being an improvement on two prior bids.

 

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United Breweries denies of getting any report from SFIO
United Breweries denies of getting any report from SFIO
 

United Breweries owned by Vijay Mallya today said it has not received any notice from Serious Fraud Investigation Office (SFIO) over alleged fund diversions by the long-grounded Kingfisher Airlines to other group entities.

United Breweries' submission to the stock exchanges comes a day after United Spirits Ltd (USL), which is now controlled by Diageo, said SFIO has sought information from the company about alleged fund diversions by Kingfisher Airlines, reported PTI.

"We would like to inform you that United Breweries Ltd (UBL) has not received any kind of notice from SFIO nor is aware of any development in this regard," the company said in a filing to the BSE.

Yesterday, United Spirits had confirmed that the SFIO has sought information from the company about alleged fund diversions by Kingfisher Airlines.

USL had said it has received a letter from SFIO in connection with its investigation into Kingfisher Airlines.

Without disclosing specific details, United Spirits said it was cooperating with the authorities in providing the required information.

UBL's filing came in response to clarification sought by the BSE about reports that SFIO was probing flow of funds between Kingfisher Airlines and some other group companies, including United Breweries.

Going by reports, the amount involved is estimated to be worth thousands of crores.

Faced with mounting debt and operational woes, Kingfisher Airlines was grounded in late 2012. The carrier had accumulated losses of Rs 16,023 crore, while its net worth fell to a negative Rs 12,919 crore at the end of March 2013.

Shares of United Breweries fell 1.84 per cent to Rs 851.45 on the BSE.

 

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The Bar Stock Exchange to open three more outlets in Mumbai
The Bar Stock Exchange to open three more outlets in Mumbai
 

RI Bureau

The Bar Stock Exchange which is trading booze on the concept of the stock market share is planning to open three more outlets in the city by December.

The group is presently operating three outlets in BKC, Sakinaka and Oshiwara.

TBSE has recently appointed Gordon Ramsay trained Chef Kshama Prabhu as the executive chef of The Bar Stock Exchange to whip up brand new gourmet amuse-gueule menus and the likes.

Spread over 6,000 square feet (ground floor and rooftop), the Colaba outpost will focus more on single malts and imported beers as compared to the other TBSEs.

Mumbai will also see two more after Colaba launch in Bandra (replacing Big Bang Bar & Café at Linking Road) in September end and a Lower Parel outpost (in between World One and Kamala Mills) set up in a 10,000 square feet space in November.

 

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Shahi Parvani causes crores of losses for bars and liquor industries in Nashik
Shahi Parvani causes crores of losses for bars and liquor industries in Nashik
 

The four-day long ban on functioning of liquor shops and bars across Nashik city from 27th to 30th August has caused crores of losses for the industry.

Sanjay Chavan, the president of the Association of Bars, Hotels, Restaurants (ABHAR), view on the first day of Shahi Parvani day, said that he was planning to move the high court against the police and district administrations for mismanagement, reported ET.

"Wrong management by both the district and the police administration has affected businesses of all establishments. The total business losses on Saturday (Shahi Snan) were estimated at Rs 500 crore. Since the pilgrims could not come to the city as police had barricaded all roads towards Ramkund, what was the point closing all shops? Moreover, there was no need to announce four dry days for liquor shops and bars. Just one dry day on the Shahi Parvani day on August 29 would have been more than enough. We are planning to move the high court against the administrations on the issue,” said Chavan.

Industries and business establishments across Nashik, barring liquor shops and bars, resumed operations on Sunday following the first Shahi Snan of the Kumbh Mela.

As per industry sources, business losses suffered by local businesses, including retail shops, liquor shops, bars and petrol pumps, were estimated at Rs 250 crore on the Parvani day when all businesses, barring hotels, restaurants and eateries, downed their shutters in view of barricading of most roads by the city police.

Liquor shops and bars in the city have suffered losses to the tune of Rs 10 crore in past four days in view of the dry days announced by the district administration from Thursday to Sunday for the first Shahi Snan.

In spite of a Sunday, industries in Satpur and Ambad industrial estate and most shops, barring wholesale markets, reopened on Sunday.

President of the Nashik Industries & Manufacturers' Association Sanjiv Narang said, "Industries in Satpur and Ambad industrial estates of the Maharashtra Industrial Development Corporation (MIDC) stopped operations from the second shift 4pm onwards on Friday. All industries started functioning from Sunday morning."

Petrol pumps across the city, which also closed down on the two days for lack of any vehicular traffic on the city roads, also resumed operations on Sunday.

Tehsin Khan, committee member of the Nashik District Petrol Dealers' Association said, "There was no vehicular traffic in the city on the first Shahi Snan day on Saturday. Hence, there was no point in opening the pumps. Only four pumps were kept open to supply fuel to the buses of the state transport."  

 

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