Under the agreement, the UK-based company, Diageo agreed to pay Rs 515 crore and absolve him from all the liabilities over alleged financial lapses at the firm founded by his family
Mallya's exit from the board of USL ended a long-drawn tussle between him and the majority owner, UK's Diageo
The stock rallied 6% to Rs 2,836 on the BSE in early morning trade.