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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

Industrialist Vijay Mallya today came out in defence of his decision to go abroad, stating that he had not fled from India.  Rubbishing claims that he had absconded from India, Mallya said that as an international businessman, he travels a lot to and fro from India. ALSO READ:  Mallya showed zero debt in Rajya Sabha affidavit   Show full Article  Tweets by Vijay Mallya

Vijay Mallya, chairman of United Breweries (UB) group, has issued a statement to say banks already have securities worth Rs 2,500 crore against Rs 7,000 crore loans given to the now-defunct Kingfisher Airlines. Show full article ALSO READ:  Mallya default case: DRT to pass orders today on SBI plea