SC orders 'status quo' in United Spirits-Diageo deal | business | Hindustan Times
Today in New Delhi, India
Mar 26, 2017-Sunday
New Delhi
  • Humidity
  • Wind

SC orders 'status quo' in United Spirits-Diageo deal

business Updated: Feb 10, 2014 17:30 IST
Supreme Court

Supreme Court on Monday directed that the "status quo" be maintained in the sale of United Spirits Ltd to British group Diageo Plc until April, when the court will hear the matter again.

In December, a regional court ordered the annulment of the sale in response to a petition by creditors of United Breweries Holdings Ltd, which sold its stake in United

Spirits to Diageo through a complicated share transaction. Diageo had said it will appeal the decision.

The Supreme Court issued a notice to both United Spirits and Diageo on Monday and said it would hear the matter at length. Diageo completed its takeover of United Spirits in July, almost eight months after the companies announced the deal because of legal and regulatory difficulties.