Vijay Mallya-led UB group's United Breweries (Holdings) Ltd today said Kingfisher Airlines has ceased to be its subsidiary, but it had a significant exposure of over Rs 12,000 crore to the air carrier.
Mallya has to be proactive to save KF: Moily Corporate Affairs Minister M Veerappa Moily indicated today that the cash-strapped Kingfisher Airlines was "not professionally managed" and the onus was on promoter Vijay Mallya to convince the lenders.
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