New Delhi: Vijay Mallya-promoted UB Holdings Ltd (UBHL) is seeking approval of its shareholders for a transaction of up to Rs 150 crore towards purchase of goods, including beer, from group firm United Breweries Ltd.
The company is seeking consent of its shareholders at its upcoming AGM "to enter into a contract/arrangement with UBL in respect of purchase of goods or materials from them (including purchase of Beer) for an estimated amount of up to Rs 150 crore for 2016-17", UBHL said in a filing to the BSE.
UBHL's board has already "approved the proposed transaction along with annual limit", it added.
The company's AGM will be held on September 29 in Bengaluru. Besides, the company has proposed reappointment of one of its directors, Daljit Mahal, who is retiring by rotation.
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