USL directors tell Vijay Mallya to resign from board

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RESIGNATION// The board of directors at United Spirits Ltd has asked promoter and chairman Vijay Mallya to resign from the board after an internal probe alleged the liquor baron may have been involved in financial irregularities at India’s largest liquor company. Anand Kripalu, who led the internal probe was appointed as CEO last year by Diageo Plc., the majority shareholder in United Spirits. Vijay Mallya hit back saying he will not resign as a director of United Spirits and criticized both Diageo and PwC, which helped with the probe. “I have been flooded with media queries of different types, inferences and speculation,” he stated. “All I wish to say is that I intend to continue as chairman of USL in the normal manner.”

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