USL holds Mallya liable for ₹1,225 cr diversion
United Spirits (USL) on Saturday revealed ₹1,225.3 crore worth "fund diversion and improper transactions" with firms associated with Vijay Mallya. Its 'additional inquiry' also named Kingfisher Air and his Formula One team among the funds' recipients. USL further said, the settlement reached earlier in 2016 will cover the disclosures and the former Chairman will be liable for additional claims.