Vijay Mallya alleges witch hunts against him by government
Mallya was reacting to a recent Sebi order that barred him from the stock markets and pushed him to relinquish chairmanship at two companies.
Beleaguered business tycoon Vijay Mallya has alleged that various agencies of the government are on a witch hunt and that he was "kind of getting used to" them "from all directions with no legal basis whatsoever."
Mallya said it only showed what government machinery could do. Mallya took to Twitter to vent after Sebi's order barring him from the markets.
He was reacting to recent reports where the markets regulator Securities and Exchange of India (Sebi) barred Mallya from the stock market and from holding a director position in any of the listed companies in the country. After the order, he would have to give up chairmanship at United Breweries and United Breweries (Holdings).
Mallya said that the all the allegations of fund diversion from United Spirits were baseless. He has been accused of siphoning off and diverting funds amounting to Rs 1,881 crore from United Spirits to various entities within the United Breweries Group.