Vijay Mallya-promoted UB Holding Ltd (UBHL) is seeking shareholders' nod for a transaction of up to Rs 150 crore for 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 BSE filing.
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 re-appointment of one of its directors, Daljit Mahal, who is retiring by rotation.
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