Vijay Mallya hits out at SEBI for barring him from securities market

Beleaguered liquor baron Vijay Mallya has hit out at SEBI for barring him from securities market with regard to alleged fund diversion from United Spirits and termed the charges “baseless”.

Mallya, in a series of tweets, called the allegations of fund diversion concerning now-defunct Kingfisher Airlines a “joke” and said he is getting used to “witch hunts coming from all directions with no legal basis whatsoever”.

“CBI alleges diversion of funds OUT of Kingfisher Air. SEBI alleges diversion of funds from USL INTO Kingfisher Air. What joke is this?,” Mallya tweeted.

He further said: “Allegations of fund diversion out of USL are baseless. USL accounts were approved by top Auditors, an eminent Board of Directors n (sic) shareholders.”