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United Spirits enquiry reveals Vijay Mallya and his firms diverted over Rs 1,225.30 crore

In an additional enquiry, United Spirits Ltd (USL), the Diageo Plc-controlled company, said that Vijay Mallya and his firms have diverted funds over Rs 1,225.30 crore between October 2010 and July 2014.


 United Spirits enquiry reveals Vijay Mallya and his firms diverted over Rs 1,225.30 crore

Zee Media Bureau

Mumbai: In an additional enquiry, United Spirits Ltd (USL), the Diageo Plc-controlled company, said that Vijay Mallya and his firms have diverted funds over Rs 1,225.30 crore between October 2010 and July 2014.

USL, the world's largest liquor company, informed the Bombay Stock Exchange on Saturday that it's only the court that will be in a position to make final determinations about the culpability in the fault.

It added that the additional inquiry prima facie reveals further instances of actual or potential fund diversions amounting to approximately Rs 913.50 crore as well as other potentially improper transactions involving USL and its overseas subsidiaries amounting to approximately Rs 311.80 crore,.

Diageo purchased controlling stake in United Spirits from Mallya in July 2013.

From Zee News

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