PTI
WASHINGTON
More than half of Mallya’s total package for 2015 has been paid by California-based Mendocino Brewing Company Inc to him for “promoting” the company’s beer brands.
Mallya serves as Chairman of the board of directors of the company, which has an exclusive licence to brew and distribute Kingfisher beer in various countries.
United Breweries Holdings Ltd (UBHL), the holding firm of Mallya-led UB Group, is the “indirect majority shareholder” of Mendocino Brewing Company (MBC).
In its annual Form 10-K filing for the year 2015, submitted with the US markets regulator SEC, MBC has disclosed that Mallya was paid a total compensation of USD 256,900 (about Rs. 1.71 crore), unchanged from the
previous year.
“Vijay Mallya is paid USD 120,000 per year by MBC for services rendered as Chairman, and 89,600 British pound per year (approximately USD 136,900) by UBIUK for promoting our products in the Foreign Territory outside the United Kingdom,” it said.
