New Delhi : In a bid to take control of the Vijay Mallaya’s fertiliser firm MCFL, Deepak Fertilisers has sought support from MCFL’s independent directors on its open offer saying that rival bidder Zuari’s win will help “wilful defaulter” Mallya continue to head the firm, reports PTI.
Deepak Feriliser in the letter has said if Zuari’s open offer succeeds then Mallya a ‘wilful defaulter’ will continue to be the chairman of the MCFL for five years and therefore it will be difficult for the company to access capital markets and avail loans.
Both Deepak Fertilisers and Zuari Group have raised their open offers for acquisition of additional 26 per cent stake to Rs 288.41 crore and Rs 251.44 crore respectively.
