United Spirits books fixed post takeover from Mallya: Diageo
Liquor firm Diageo said it has corrected many errors in the books of United Spirits after acquiring it from Vijay Mallya. Diageo said it is now transparent in its disclosures to regulatory authorities. This comes after Paradise Papers leak revealed how funds of over $1.5 billion were allegedly diverted using offshore subsidiaries of United Spirits, when Mallya owned the company.