Media convicted me guilty without trial with widespread influence: Vijay Mallya

SEBI barred Mallya from the stock market for fraudulently diverting about Rs. 1,881 crore from USL to various other entities within the UB Group.

New Delhi: Liquor baron Vijay Mallya on Friday lashed out at media stating that he has been made an object of media trial.

Mallya took to twitter to express his anguish. In a series of tweets Mallya wrote:

In our Country I assumed that innocence prevails till proven guilty. Media have convicted me guilty without trial with widespread influence

— Vijay Mallya (@TheVijayMallya) January 26, 2017

Till this minute there is no final judicial determination on what KFA owes to Banks and what I may owe in my personal capacity after trial.

— Vijay Mallya (@TheVijayMallya) January 26, 2017

Yet it is reported that I have fled or run away owing money to Banks that I never ever borrowed in the first place.

— Vijay Mallya (@TheVijayMallya) January 26, 2017

Earlier on Wednesday, market regulator SEBI barred Mallya from the stock market for fraudulently diverting about Rs. 1,881 crore from United Spirits (USL) to various other entities within the UB Group, including now grounded Kingfisher Airlines (KFA).

It also instructed USL to report to SEBI, within 21 days, about the action it has initiated against Mallya, Capoor and others.Along with Mallya, SEBI also barred another six people including Ashok Capoor and V K Rekhi, both former MDs of USL from the market. Capoor has also been barred from directorship of any listed company.

Mallya, however, rubbished the SEBI`s allegations of indulging in fraudulent activities and said that he is getting used to these witch hunts coming from all directions with no legal basis whatsoever.

"Allegations of fund diversion out of USL are baseless. USL accounts were approved by top Auditors, an eminent Board of Directors in shareholders," Mallya tweeted, adding this shows what government machinery can do.