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Not concerned with or connected to Kingfisher Airlines, United Breweries clarifies

Embattled businessman Vijay Mallya-led United Breweries said it is not privy to any of the loans taken by Kingfisher Airlines or investigations related to it.

“UBL is an independent listed entity engaged in the beer business and is not concerned with KFA (Kingfisher Airlines) in any manner whatsoever,” United Breweries Limited (UBL) said in a reply to BSE.

The BSE had sought a clarification from UBL on news reports of CBI charging Vijay Mallya with fraud and criminal conspiracy.

CBI in its charge sheet said that Mallya-led Kingfisher Airlines diverted Rs 263 crore from Rs 900 crore IDBI loan for “personal use”.

The charge sheet names former liquor baron Vijay Mallya, Kingfisher Airlines and nine others, including the then IDBI Chairman Yogesh Aggarwal who was arrested on Monday, in connection with the 2015 loan default case.

“At the outset, United Breweries Limited (UBL) is not privy to any of the loans taken by KFA and also not privy to any investigation, inquiry or events related to KFA and/or any person or matter relating thereto,” UBL said.

The company said that it is not aware of any announcement or news item pertaining to KFA and “we too come to know about such news from newspapers and media reports only”.

Nine persons, including former executives of Kingfisher Airlines and IDBI officials, were arrested on Monday as the agency fears they might have influenced the witnesses.

CBI has slapped IPC sections related to criminal conspiracy, cheating and provisions of Prevention of Corruption Act on the accused.