Vijay Mallya tweets ‘innocence’, talks of trial & conviction by Indian media | business-news | Hindustan Times
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Vijay Mallya tweets ‘innocence’, talks of trial & conviction by Indian media

business Updated: Feb 08, 2017 23:33 IST
HT Correspondent
Vijay Mallya

File photo of Vijay Mallya during a press conference.(Reuters)

Beleaguered liquor baron Vijay Mallya tweeted “innocence” in the alleged funds diversion loan default case.

“Till this minute, there is no final judicial determination on what KFA owes to banks and what I may owe in my personal capacity after trial,” Vijay Mallya tweeted.

In a series of tweets, Vijay Mallya raised concerns over the media coverage of the recent developments here and said his “innocence prevails” till he is proven guilty by any court. Vijay Mallya hit out against what he has called trial by the media.

He said that there was no clear “financial determination” on how much he or Kingfisher Airlines (KFA) owed to the banks.

“In our country, I assumed that innocence prevails till proven guilty. Media have convicted me guilty without trial with widespread influence,” said Mallya.

“Yet, it is reported that I have fled or run away owing money to banks that I never ever borrowed in the first place.”

On January 25, market regulator Sebi had barred Mallya and six others from the securities market in a case related to alleged funds diversions from United Spirits, a company which the tycoon promoted before selling it to Diageo. Vijay Mallya had resigned as director and chairman of USL in March 2016.

On January 24, a day after the arrest of former IDBI Bank chairman Yogesh Aggarwal along with four other former officials in the case, CBI chargesheeted Vijay Mallya and 11 others in connection with the default of loan granted by IDBI bank to now defunct Kingfisher Airlines. IDBI bank granted over Rs 900 crore to Kingfisher Airlines during the time Aggarwal was chairman.

The tweets from Mallya follows these developments in India. The liquor baron who is now staying in London, also scoffed at suggestions that he had fled the country in the wake of the investigations against him, saying his departure was “nothing sudden. I have been a non-resident since 1988”.