Kingfisher, unable to secure meaningful investment pledges after a two-year roadshow has this week bowed to the inevitable: cut back aspirations, cut back low cost plans and pump more of that beer money into what is left. Kingfisher secured guarantees worth over Rs 6,100 crore (US$1.255bn) from Chairman Vijay Mallya to reduce debt last year it turns out. In return for providing the additional level of collateral for its funding needs, the company paid a little over Rs 50 crore (US$12.8m) to Vijay Mallya as “guarantee and security commission” during the same period. It also turns out that Vijay Mallya

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