USL to start strategic review of investment in IPL team Royal Challengers Bengaluru
New Delhi (PTI): United Spirits Ltd (USL), part of multinational alcoholic beverages company Diageo, on Wednesday said it is going to have a strategic review of its investment in Royal Challengers Sports Pvt Ltd (RCSPL), the entity that owns IPL T20 team Royal Challengers Bengaluru.
Hinting towards the sale of the business, USL, in a regulatory filing on Wednesday, said it is "initiating a strategic review of the investment in its wholly-owned subsidiary, RCSPL."
RCSPL's business comprises ownership of the “Royal Challengers Bengaluru (RCB)” franchise teams that participate in the Men's Indian Premier League (IPL) and Women's Premier League (WPL) cricket tournaments hosted by the Board of Control for Cricket in India (BCCI) annually.
RCB, the team that had India's cricket star Virat Kohli, won its first Indian Premier League title earlier this year.
The company expects the entire process of strategic review to be completed by the end of this fiscal.
"It is expected the process will conclude by March 31st, 2026," said USL Managing Director & CEO Praveen Someshwar.
According to Someshwar, though RCSPL has been a valuable and strategic asset for USL, it’s non-core to our alcoholic beverage business.
"This step reinforces USL’s & Diageo’s commitment to continue reviewing its India enterprise portfolio to enable sustained delivery of long-term value to all its stakeholders, while keeping RCSPL’s best interest in mind," he said.
RCB was one of the founding teams of the IPL, which was founded in 2008 by its previous owner Vijay Mallya. It came into the fold of Diageo, after it took Mallya's liquor business United Spirits Ltd.
RCB, whose home ground is M Chinnaswamy Stadium, won their first title in 2025 and finished as the runners-up on three occasions -- 2009, 2011, and 2016.
Earlier, in September, some media reports had claimed that Serum Institute CEO Adar Poonawalla was in talks with USL for a possible acquisition of RCB.
Recently, in a post on X (formerly Twitter) platform, Poonawalla said, “At the right valuation, RCB is a great team,” signalling his interest in acquiring the 2025 IPL champion team.
Earlier, in May 2022 after a the strategic review of selected Popular brands, USL had sold and franchised selected brands to Inbrew Beverages.
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LoP Ashoka targets CM govt over corruption, says being 'shameless' in public life not forgivable
Bengaluru (PTI): Targeting Chief Minister Siddaramaiah and the Congress government in Karnataka on corruption, BJP leader R Ashoka on Friday said, being foolish was forgivable, but being "shameless" in public life was not.
The Leader of Opposition in the state Assembly claimed that in just 30 months of its tenure, the Congress administration has broken every previous record on corruption-related controversies.
He was responding to Siddaramaiah's post on 'X' on Thursday hitting back at the BJP, stating that Upa Lokayukta Justice Veerappa's claims of "63 per cent corruption" were based on his report in November 2019, when BJP's B S Yediyurappa was the CM.
"But Ashoka, without understanding the Upa Lokayukta's statement properly, has ended up tying the BJP's own bells of sins onto our heads and has effectively shot himself in the foot," the CM had said, as he accused Ashoka of foolishness for trying to twist Veerappa's statement to target the current government.
Responding, Ashoka said, "it is one thing to be called foolish in politics, that can be forgiven."
"But in public life, especially in the Chief Minister's chair, one must never become shameless," Ashoka posted on 'X' on Friday addressing Siddaramaiah.
Noting that the CM himself had admitted on the floor of the Assembly that a Rs 87 crore scam took place in the Valmiki Development Corporation, he said that when a CM acknowledges such a massive irregularity inside the floor of the House, the natural expectation is immediate action and accountability.
"But instead of taking responsibility, you continue in office as if nothing has happened. What should the people of Karnataka call this, if not sheer shamelessness," he asked.
Pointing out that the CM's Economic Advisor and senior Congress MLA Basavaraja Rayareddy had publicly stated that under Congress rule, Karnataka has become No.1 in corruption, Ashoka said, "Yet, you still cling to the Chief Minister's chair without a moment of introspection. What should the people of Karnataka call this, if not sheer shamelessness."
Senior Congress MLA C R Patil had exposed the "money for House" racket in the Housing Department and even warned that the government would collapse if the details he has were made public, Ashoka said.
"Despite such serious allegations from within your own party (Congress), you neither initiated an inquiry nor acted against the concerned minister. What should the people of Karnataka call this, if not sheer shamelessness," Ashoka asked the CM.
Highlighting the "40 percent commission" allegation Congress made against the previous BJP government, the opposition leader said, the commission that the Siddaramaiah government appointed concluded that the accusation was baseless.
"After your own panel demolished your own claim, what moral right do you have to continue repeating that allegation. What should the people of Karnataka call this, if not sheer shamelessness," he asked.
For the last two and a half years, Karnataka has been 'drowning' in corruption, scandals, irregularities and allegations across departments. Ashoka said, "If I begin listing every case that emerged under your government, even 24 hours would not be enough."
"And the most tragic aspect of your administration is this: the unbearable pressure, corruption demands and administrative harassment under your government pushed several officers and contractors into extreme distress - including the suicide of Chandrasekharan which exposed the Valmiki Development Corporation scam - a sign of how deeply broken the system has become under your watch," he said.
Instead of fixing this hopeless environment, the government has tried to bury every complaint and silence every voice, he charged.
"Being foolish is forgivable, but being shameless in public life is definitely not."
"When your own ministers admit scams, when your own advisors certify Karnataka as No.1 in corruption, and when your own MLAs expose rackets inside your departments - clinging to power without accountability is not leadership. It is shamelessness in its purest form." PTI KSU
Earlier on Thursday Ashoka had demanded that the corruption case and allegations in the state against the Congress government be handed over to a CBI investigation, citing a reported statement by Upalokaykta Justice Veerappa alleging "63 per cent corruption", following which Siddaramaiah hit back at the BJP leader.
