The question hangs in the air as the British multinational faces off with Pernod Ricard for a bigger slice of the premium end of the Indian liquor market.
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The finance minister has stated that banks have recovered Rs 14,131 crore by selling Mallya’s assets. However, the businessman has a number of other hurdles to cross before he can come back to India.
Led by MD and CEO Hina Nagarajan, its whisky brands have outpaced many of French rival Pernod Ricard’s for the first time in several years.
The maker of Officer’s Choice whisky may have lost ground to peers but Chhabria is hoping new leadership and a course correction will sway investors.