In 2006, the Baramati Grape Industries was merged with the USL, resulting in transfer of shares to the Pawar family -owned Lap Finance and Consultancy Pvt. Ltd.
The Pawars' shareholding in USL amounts to roughly 0.05 pc of that company's equity. This holding arose out of the merger in 2006 of Baramati Grape Industries Ltd - in which the Pawars had a significant stake and where his brother was a director - with USL, says the report.
Reportedly, these shares are mostly held through Lap Finance and Consultancy Pvt Ltd, a family company of the Pawars.
The Pawars also own shares in Pune-based City Corp, which was one of the bidders for the second round of IPL franchise auctions, reports say.
Meanwhile, the UB Group Chairman Vijay Mallya has denied the claim that the Pawar family holds shares in the Royal Challengers Bangalore.