Vijay Mallya refutes diversion of funds allegations - EasternEye

Vijay Mallya refutes diversion of funds allegations

BELEAGUERED Indian businessman Vijay Mallya has insisted all his transactions at United Spirits Limited (USL) were “legal and above board” after the company disclosed in a stock exchange filing that company funds were diverted. Mallya has been living in the UK for the past four months while authorities in India seek his arrest as several banks there have declared him a “wilful defaulter” for non-payment of dues worth over `90 billion by his now-defunct Kingfisher. In February, the 60-year-old businessman struck a settlement with USL and under the “sweetheart deal”, he was promised a payout of `5bn to leave the…

You do not have access to this content. You need to subscribe.

Adblocker detected! Please consider reading this notice.

We've detected that you are using an Adblocker which is preventing the page from fully loading.

We don't have any banner, Flash, animation, obnoxious sound, or popup ad. We do not implement these annoying types of ads!

We depend on the revenues generated to operate the site, and continue to bring you great news content

Please add to your ad blocking whitelist or disable your adblocking software.