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Force India owner Mallya under pressure to resign from USL board
Force India owner Vijay Mallya is facing calls to resign from the board of United Spirits Ltd after an internal enquiry said he had allegedly diverted funds to other companies. United Spirits Ltd is an Indian liquor maker controlled by Diageo Plc of which Mallya is chairman and director. Diageo, which recently bought a controlling stake in United Spirits, has asked Mallya to resign after it found "various improprieties and legal violations" after conducting a probe into loans given by United Spirits to other companies in the group, including Kingfisher Airlines, which sponsors the Force India Formula 1 team. Kingfisher, established in 2003, was grounded in October 2012 after years...
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8y ago from Motorsport.com
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