Mallya denies USL's fund diversion accusations
Vijay Mallya on Sunday refuted the allegations of fund diversion worth ₹1,225 crore towards his associated entities made by Diageo-controlled United Spirits, stating that all transactions were “legal and above board”. Further, Mallya said Diageo had conducted "extensive" due diligence while acquiring USL shares and that it was “surprising and unfortunate” that allegations are now being made.