The United Breweries Limited Chairman Vijay Mallya on 1 December 2014 resigned as the Director of Mangalore Chemicals and Fertilizers Ltd (MCFL) with immediate effect.
However, the reason behind his resignation is still unknown. The post of Director at Mangalore Chemicals may for now remain vacant.
Mallya’s resignation comes at a time when MCFL is amidst a takeover battle between Deepak Petrochemicals and Fertilizers and Zuari Agro Chemicals and Fertilizers.
Mallya had joined forces with Kolkata-based industrialist Saroj Kumar Poddar to launch a counter bid against Deepak Fertilisers. The board of Mangalore Chemicals is being restructured to include two representatives of Poddar’s Adventz Group.
Mangalore Chemicals and Fertilizers Ltd (MCFL)
Mangalore Chemicals and Fertilizers is a fertilizers manufacturing company situated in the state of Karnataka, India.
The company with its wide range of products that include urea, di-ammonium phosphate, muriate of potash, granulated fertilizers, micronutrients, soil conditioners and specialty fertilizers, touches and enriches the lives of farmers across southern India.
Who: Vijay Mallya
When: 1 December 2014