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In a fresh twist to the boardroom battle at Diageo-owned United Spirits, the NSE has asked the company to make public its inquiry report on alleged fund diversion to Vijay Mallya’s UB Group, but the liquor maker has rejected the demand citing ‘confidentiality’.
The matter is already being looked into by several agencies, including markets regulator SEBI and the stock exchanges which act as front-end regulators.
Taking forward its probe into the entire matter, the National Stock Exchange had asked United Spirits Ltd (USL) to provide a detailed report on its inquiry for “the public dissemination purpose”.
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