Bad times for Vijay Mallya as exit from United Breweries looms

India’s largest beer brewer, United Breweries, began attempts to boot embattled tycoon and shareholder Vijay Mallya off its board.

United Breweries, controlled by Heineken, asked Mallya — known as the King of Good Times — to resign as non-executive chairman.

Mallya (pictured), whose business interests also include Formula One, has been banned from holding directorships of listed firms. Heineken could face regulatory troubles if he fails to comply.

It follows Mallya’s high-profile spat with Indian authorities, which led to him living in exile in London.

The Indian government cancelled his passport after an investigation was launched into suspected misuse of loans to his now-defunct airline Kingfisher. He denies any wrongdoing.

Mallya is in dispute with banks over $1.4 billion (£1.2 billion) in allegedly unpaid debts after the airline’s collapse. He has claimed he owes half that and would only return to India if he could be assured of a fair trial.