UB Group Chairman, Mallya is the owner of India Premier League (IPL) team from Bangalore -- Royal Challengers Bangalore (RCB). During its first day of auction, Mallya spent at least Rs 58.2 crore on buying and retaining players for the IPL 2014.
Mallya, who spent Rs 14 crore to buy cricketer Yuvraj Singh, once had said that he did not have to pay the due salaries to Kingfisher Airlines employees who have been left unpaid since 2012.
Mallya spent at least Rs 58.2 crore on buying and retaining players for the IPL
Addressing the employees, who were protesting against Mallya and UB Group officials demanding their salaries, the Chairman had said, "I don't have the money to pay your salary dues, because I cannot use the proceeds from the United Spirits-Diageo deal for this due to an injunction from the Karnataka High Court."
Contrary to his claims, Mallya now was seen spending crores on players who will play for his franchise. Kingfisher Airlines, which Mallya had promoted in 2005 as an 18th birthday gift for his son Siddharth, owes Rs. 350 crore to it employees.
Citing the rage in people against its Chairman, KFA spokesperson Prakash Mirpuri said, "RCB is a subsidiary of USL which has nothing to do with Kingfisher. Even though UBHL (Mallya's holding company, through which he controls his businesses) had no obligation, it applied to court to pay KFA employees which permission was not given by the court. It is wholly incorrect to make a mischievous link between the IPL auction and KFA."