Former liquor baron Vijay Mallya has hit back at the Securities and Exchange Board of India (SEBI) in a series of tweets calling the allegations against him as a joke.

“The CBI alleges diversion of funds OUT of Kingfisher Air. SEBI alleges diversion of funds from USL INTO Kingfisher Air. What joke is this?," Mallya tweeted on Thursday.

Earlier, in a statement, Mallya said he was surprised by the media reports. “Neither have I had any communication with SEBI nor have I ever been afforded a hearing before this purported action has been taken. I have always strongly denied all allegations made by USL.”

The SEBI in a communication on Wednesday barred Mallya and his associates from accessing the markets as well as holding director’s position in any company. In its 30-page order, SEBI’s whole-time member S Raman said funds from United Spirits which is now owned by Diageo, were diverted to certain group companies, including the now defunct Kingfisher Airlines.

The statement also narrated an incident regarding how Mallya exerted pressure on his colleagues to arrange funds for the airline.

When officials of USL protested stating that it will impact the companies’ books, Mallya in an e-mail told them that they would have to face consequences for refusal to sanction the funds.

“I know the USL position exactly. It is my final call. If you cannot accept my instructions, you are free to decide your further steps.... but let me repeat, my call is final and an instruction,” the SEBI order quoted Mallya as saying in an email to employees.

“Investors (of USL) might have based their investment decisions on the manipulated books of accounts prepared and presented by these persons,” SEBI’s Raman said.

But Mallya refuted all the charges against him in a series of tweets. “Allegations of fund diversion out of USL are baseless. USL accounts were approved by top auditors, an eminent Board of Directors n (sic) shareholders."

In another tweet, the former billionaire said: "For 30 years, I built the world's largest spirits company n (sic) India's largest Brewing Company. Also launched the finest airline. This is what I get," Mallya tweeted.

“I am kind of getting used to these witch-hunts coming from all directions with no legal basis whatsoever. Shows what Govt Machinery can do," said Mallya.

Mallya also claimed that Kingfisher Airlines was actually a “great public utility service connecting India like never before. It was not my private toy.”

The beleaguered businessman stays in London currently and has repeatedly said that he fears a major witch hunt for his life if he returns to his homeland.

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