India: Diageo’s Vijay Mallya payout may be reduced as “improper transactions” come to light
11 Jul 2016

MUMBAI: Diageo Plc may reduce the $75-million settlement it reached with Vijay Mallya earlier this year after its Indian unit United Spirits LtdBSE -0.73 % (USL) uncovered “improper transactions” amounting to Rs 1,225.3 crore.

That’s not all. USL may lay claim to Mallya’s stake in the Force India Formula One team as security until it recovers the funds used by him, said people aware of the matter.

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