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The MCFL ran for seven months from October and featured 40 teams playing more than 720 matches.
The audit was also asked to look into various advances made by MCFL to Mallya's flagship United Breweries (Holdings) Ltd (UBHL) of which a sum of Rs 16.68 crore was outstanding as of March 31, 2016.
The April 13 announcement by Deepak Fertilisers that it would divest some of its holding and would ultimately liquidate its entire share in MCFL was the culmination of a two-year-long battle in which Mallya, who holds a 22 per cent stake in MCFL, teamed up with friend Saroj Poddar to ward off the hostile bidder.
Some analysts said that investors might be seeing the developments as a beginning of the endgame for Mallya, who no more has controlling stakes in United Spirits and United Breweries, and his exit from MCFL and Kingfisher could leave UBHL as the only major entity where he may still have a significant role.
at 264 (stating that the fact that MCFL "was formed for the express purpose of promoting political ideas, and cannot engage in business activities" was crucial to the Court's holding).
other shortcomings of the MCFL standard, see infra note 215.
("MCFL") first confronted the question of corporate spending limits in candidate elections.
See id., at 330--332 (quoting MCFL, 479 U.S., at 253-- 254).
for Life (MCFL), (70) the Court considered whether section 441b's
Nawras, a Qtel Group company, is also sponsoring the MCFL League for the fourth year.