Beleaguered billionaire Vijay Mallaya  who also owns  Kingfisher Airlines and recently sold a majority stake in United Spirits to Diageo Plc., is staring at the prospect of a substantial dilution of control in Mangalore Chemicals & Fertilisers (MCF) MCF shares have surged a whopping 72 %  since June 1st, compared with a 2.8 per cent fall in the Nifty during the same period on speculation