Vijay Mallya’s old company says he diverted Rs 1,225 crore

New Delhi: In fresh troubles for Vijay Mallya , Diageo-controlled United Spirits on Saturday disclosed fund diversion and improper transactions worth Rs 1,225.3 crore involving entities linked to the embattled former chairman , including Kingfisher Airlines and his Formula One team.
The company, acquired by the British liquor giant from Mallya’s UB Group in 2013 in a multi-billion dollar deal, made it clear that the earlier settlement reached with the Indian businessman would not absolve him of the claims arising out of the latest findings of an internal ‘Additional Inquiry’.
Mallya, who has been in UK for months evading an arrest warrant in India while several banks have declared him ‘ wilful defaulter ‘ for non-payment of dues worth over Rs 9,000 crore by his now-defunct Kingfisher, had struck a settlement with USL in February.