Wants details of Vijay Mallya's transactions over 4 years The Securities and Exchange Board of India (Sebi) has written to a UK regulator, the Financial Conduct Authority (FCA), for information on alleged fund diversion by Vijay Mallya and his associate companies from United Spirits Limited (USL). In July, Diageo-controlled USL had said an inquiry against Mallya, former chairman, and his companies had revealed Rs 1,225 crore (Rs 12.25 billion) of fund diversion. Market regulator Sebi is probing ... Rediff.com, 1 month ago
For almost all the properties owned by Vijay Mallya, the reserve price has been marked down after the earlier attempts failed to attract bidders. As the lenders and tax authorities cool their heels for Vijay Mallya to return to India, they will put under hammer next month assets worth over Rs 700 crore (Rs 7 billion) of the embattled businessman’s long-defunct Kingfisher Airlines. The items waiting for the right bidders are plenty -- the erstwhile headquarters Kingfisher House near ...Rediff.com, 1 month ago
The board of directors will review the position of Vijay Mallya, under self-exile in Britain, at its next meeting on August 12. Vijay Mallya would continue to be chairman of United Breweries (UB), majority stake held by Dutch beverage maker Heineken, after a legal panel gave its affirmation for the liquor baron to continue in office. The board of directors will review the position of Mallya, under self-exile in Britain, at its next meeting on August 12. The Economic Times first reported the ...Rediff.com, 2 months ago
USL claims it has given a report on how the liquor baron channelled money from the company to Kingfisher Airlines, Force India and Watson. United Spirits Limited (USL), majority owned by British liquor major Diageo, has given evidence to regulators and investigation agencies of fund diversion to the tune of Rs 1,225 crore (Rs 12.25 billion) from the company under Vijay Mallya. “It is fairly voluminous report and we have given copies to all regulators as a board and the company. We do not ...Rediff.com, 2 months ago
'It is surprising and unfortunate that unfounded allegations are now being made without any reference to me whatsoever,' Vijay Mallya said. A day after United Spirits (USL) accused Vijay Mallya (pictured) of funds diversion worth Rs 1,200 crore (Rs 12 billion) from the company when it was managed by the UB Group chief, the latter denied the new charges. In a statement, Mallya said he had no knowledge of the additional enquiry conducted by the audit firm, EY. “I have absolutely ...Rediff.com, 2 months ago
Firm makes disclosures of improper transactions worth Rs 1,225.3 crore with entities linked to beleaguered businessman United Spirits Limited (USL), owned by British beverage giant Diageo, on Saturday said it found evidence of funds diversion worth Rs 1,225 crore from the company when it was managed by Vijay Mallya. In a statement to the stock exchanges, United Spirits said a follow-up investigation by E&Y found that Mallya diverted funds to Kingfisher Airlines, Force India Ltd and Watson ...Rediff.com, 2 months ago
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