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United Spirits has said that its shareholders have voted in favour of the company being referred to BIFR because of the erosion of its net worth.
In a statement, the company which is now owned by the London-based Diageo, said that 99.9 per cent of the shareholders approved the resolution at an extraordinary general meeting held here on January 22.
As per the 2014-15 annual results, USL made an operating profit of Rs 154.26 crore but the net loss during the year resulting in erosion of net worth was due to certain exceptional and non-recurring items and not due to operational losses.
The liquor company had a positive net worth of Rs 845.84 crore as on March 31, 2015. However, in its unaudited financial results for the six month period ended September 30, 2015, the company reported profit increasing its networth to Rs 1,667 crore.
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