The allegations made by the Chhabria group in a petition before the Company Law Board (CLB) in New Delhi are baseless, UB group spokesman said here.Amongst all the Indian liquor companies, only BDA Ltd, of which Kishore Chhabria is the chairman, had shown losses despite the fact that its brand Officers' Choice had grown substantially during this period.

Airdale Investment Trading, in which MD Chhabria is a major shareholder, earlier in the day filed a petition seeking appointment of an independent chairman and administrator in Vijay Mallya controlled Herberstons Ltd alleging Mallya was siphoning funds from the latter. "Mallya through his close associate Balaji group has been siphoning out over Rs 5 crore per monthfrom Herbertsons," it alleged.

The petition by the Chhabrias accused Mallya of stripping assets of the liquor company to his personal gain and/or to the benefit of other companies controlled by him.