Mallaya quits as United Spirits chairman, in exchange for $75 million

On Thursday, 25th Feb, the Liquor baron Vijay Mallya has resigned as the chairman of United Spirits Ltd, controlled by Diageo Plc, in a $75-million (Rs 515 crore) deal with the UK firm. And in return, Diageo, has agreed to drop all charges of alleged irregularities under his watch. Diageo announced MK Sharma, an independent non-executive director …