London/New Delhi : It is understood that market regulator SEBI has begun a probe to determine how and why Vijay Mallya was cleared of financial violations charges by Britian’s Diageo. It will be recalled that after much hostility, Diageo said last month that Mallya was innocent of financial wrongdoing and decided to pay him Rs 515 crores in return for Mallya agreeing to give up his chairmanship and board position.
A spokesperson for Diageo confirmed, “We have received a request for information from SEBI and will of course cooperate with them.”
Meanwhile, Caught in the controversy surrounding flamboyant businessman Vijay Mallya, British liquor giant Diageo on Friday said it will “review” the Debt Recovery Tribunal’s order freezing $D 75-million payout to him out of which has already paid $ 40 million.
allya has come under intense scrutiny in recent weeks after a sweetheart deal he inked with Diageo, the current controlling owner of United Spirits, under which he is getting Rs 515 crore ($ 75 million) to exit from the board of the company founded by his family and taken to the top by him.
Staking its claim on this payout deal stuck by Mallya in a sweetheart deal with Diageo, top lender SBI had approached the Tribunal that earlier this week barred the beleaguered businessman from accessing this exit payment till the loan default case with the state-run bank was settled, reports PTI.
