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The Enforcement Directorate (ED) and Reserve Bank of India have launched a probe into the transfer of Rs 4,000 crore from United Spirits Ltd (USL) to the British Virgin Islands in early 2007 by the company before it was taken over by Diageo in 2012. A probe into the transfer was first ordered by a division Bench of the Karnataka High Court on December 20, 2013, Show full article

The  Supreme Court  on Wednesday issued notice to  Vijay Mallya   on  petition  of consortium of banks seeking disclosure of his  assets  and seizure of passport. This followed a statement by the government's top lawyer,  Attorney General  Mukul Rohatgi   who informed the court that Mallya left the country on March 2.  The apex court has given Mallya two weeks to respond to the notice. The next hearing has been scheduled for March 30. Show full article