Vijay Mallya news, United Breweries shares worth over $5,800 crore were sold. Vijay Mallya, 65, has been denied permission to launch an appeal in the UK Supreme Court after losing his fight against extradition to India.
New Delhi: The debts recovery tribunal (DRT) has sold shares worth over ₹ 5,800 crores of United Breweries Limited (UBL) that were earlier attached under the anti-money laundering law as part of an alleged bank fraud probe against fugitive liquor baron Vijay Mallya, the Enforcement Directorate said on Wednesday.
Further realization of ₹ 800 crores by the sale of shares is expected by June 25, the central probe agency said in a statement.
Recently, it said, the agency had transferred shares attached by it (worth about ₹ 6,600 crores) to the SBI-led consortium as per the order of the special Prevention of Money Laundering Act (PMLA) Mumbai.
“Today, DRT on behalf of SBI-led consortium has sold shares of United Breweries Limited for ₹ 5824.50 crores,” the Enforcement Directorate said.
Vijay Mallya, 65, has lost the case against his extradition to India and he has “been denied permission to file an appeal in the UK Supreme Court.”
“His extradition to India has become final,” the probe agency said