Sale of UBHL shares of Mallya fetch Rs 1,008 cr: ED
5 years, 9 months ago

Sale of UBHL shares of Mallya fetch Rs 1,008 cr: ED

India Today  

The sale of shares, held by absconding businessman Vijay Mallya in United Breweries Holdings Limited, by the Debt Recovery Tribunal has fetched Rs 1,008 crore, the ED said Wednesday. The Enforcement Directorate said the shares, attached by the agency as part of its money laundering probe against the liquor baron, were lying with Yes Bank and the Karnataka High Court had recently ordered the bank to surrender these in favour of the Debt Recovery Tribunal in Bangalore. "Based on the submissions made and proactive steps taken by the ED and in view of the large outstanding debts of the SBI consortium against Kingfisher Airlines and Vijay Mallya, a special PMLA court allowed sale of shares on March 26. "Subsequently, shares were sold by the recovery officer on Wednesday and an amount of Rs 1,008 crore has been realised," the agency said.

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History of this topic

Fresh blow to Vijay Mallya: SEBI bars fugitive liquor baron from securities trading for 3 years
5 months, 3 weeks ago

Fresh blow to Vijay Mallya: SEBI bars fugitive liquor baron from securities trading for 3 years

India TV News  

The Securities Exchange Board of India on Friday barred Vijay Mallya from trading in India's securities market for three years. Mallya, who owns an 8.1% stake in United Breweries and a 0.01% stake in United Spirits, faces a Rs 9,000 crore bank loan default case involving Kingfisher Airlines. Non-bailable warrant issued On July 1, a special CBI court in Mumbai …

Ujjivan SFB share hits 52-week high after this RBI action. Do you own?
1 year, 7 months ago

Ujjivan SFB share hits 52-week high after this RBI action. Do you own?

Live Mint  

Ujjivan Small Finance Bank shares saw huge buying interest among stock market bulls on Tuesday. Ujjivan Small Finance Bank share price on Tuesday opened with upside gap and went on to hit intraday high of ₹37 apiece on NSE, which is its new 52-week high as well. While ascending to its new 52-week high, Ujjivan Small Finance Bank shares logged …

SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines' shares in Vijay Mallya case
3 years, 5 months ago

SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines' shares in Vijay Mallya case

India TV News  

The State Bank of India-led consortium that lent loans to fugitive businessman Vijay Mallya on Friday received Rs 792.11 crore in its accounts after some shares, earlier attached under the anti-money laundering law, were sold, the Enforcement Directorate said. Apart from the Mallya case, the other case pertains to over Rs 13,500 crore alleged bank loan cheating in the Brady …

SBI led consortium receives ₹5,824 crore from share sale of United Breweries
3 years, 6 months ago

SBI led consortium receives ₹5,824 crore from share sale of United Breweries

Live Mint  

The Enforcement Directorate on Friday informed that the SBI-led consortium received ₹5,824.5 crore from the sale of shares of United Breweries Limited. Nirav Modi, Mehul Choksi, and Vijay Mallya have defrauded PSBs by siphoning off the funds through their companies which resulted in a total loss of ₹22,583.83 crore to the banks, the ED said. The ED said an estimated …

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues
3 years, 7 months ago

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues

India TV News  

Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India, had approached a special Prevention of Money Laundering Act court …

SC dismisses plea of Vijay Mallya’s UBHL against HC order to wind up the firm
4 years, 2 months ago

SC dismisses plea of Vijay Mallya’s UBHL against HC order to wind up the firm

Live Mint  

New Delhi: The Supreme Court on Monday dismissed a plea filed by United Breweries Holdings Limited of liquor baron Vijay Mallya against an order of the Karnataka High Court upholding the winding up of the firm for recovery of dues payable by Kingfisher Airlines Ltd. A bench comprising justices U U Lalit, Vineet Saran and S Ravindra Bhat refused to …

SC Dismisses Plea of Vijay Mallya's UBHL Against HC Order to Wind Up Firm
4 years, 2 months ago

SC Dismisses Plea of Vijay Mallya's UBHL Against HC Order to Wind Up Firm

News 18  

The Supreme Court on Monday dismissed a plea filed by United Breweries Holdings Limited of liquor baron Vijay Mallya against an order of the Karnataka High Court upholding the winding up of the firm for recovery of dues payable by Kingfisher Airlines Ltd. A bench comprising justices UU Lalit, Vineet Saran and S Ravindra Bhat refused to entertain the plea …

Banks allowed to utilise Mallya’s movable assets to clear debt
5 years ago

Banks allowed to utilise Mallya’s movable assets to clear debt

The Hindu  

A special court here has permitted a consortium of 15 banks led by the State Bank of India to utilise movable assets of former liquor baron Vijay Mallya towards repayment of his debt. The assets, comprising financial securities like shares of the United Breweries Holdings Ltd, were attached by the special Prevention of Money Laundering Act court in 2016 when …

Vijay Mallya faces bankruptcy; consortium of 13 Indian banks back in UK court over Rs 10,000 cr debt
5 years, 1 month ago

Vijay Mallya faces bankruptcy; consortium of 13 Indian banks back in UK court over Rs 10,000 cr debt

Firstpost  

In July, the banks had won a High Court battle to access documents they were after to establish the true ownership of assets they believed were linked with the embattled Mallya. London: A consortium of Indian banks led by State Bank of India are back in the UK high court to seek a bankruptcy order against liquor tycoon Vijay Mallya …

Karnataka HC Dismisses Vijaya Mallya's Review Petition Against Order Directing Deposit Of Rs 3101 Crores [Read Order]
5 years, 3 months ago

Karnataka HC Dismisses Vijaya Mallya's Review Petition Against Order Directing Deposit Of Rs 3101 Crores [Read Order]

Live Law  

Karnataka High Court has rejected a review petition filed by fugitive economic offender Vijay Mallya, challenging a coordinate bench order which in turn had upheld the order by Debt Recovery Appellate Tribunal, asking Mallya to deposit a sum of Rs.3101 Crore, as a precondition for hearing his appeal against a Debt Recovery Tribunal order. On March 28, the Debt Recovery …

Karnataka HC Refuses To Quash Condition Imposed By IDBI Bank For Release Of Pledged Equity Shares Of United Spirits Ltd[Read Order]
5 years, 6 months ago

Karnataka HC Refuses To Quash Condition Imposed By IDBI Bank For Release Of Pledged Equity Shares Of United Spirits Ltd[Read Order]

Live Law  

The Karnataka High Court has refused to grant relief to United Spirits Limited and USL Benefit Trust, which sought to quash a condition imposed by IDBI Bank Limited for release of its pledged equity shares given in lieu of a loan of Rs 625,45,056 crores sanctioned and disbursed to Kingfisher Airlines, in 2010. Justice Alok Aradhe while dismissing the writ …

Vijay Mallya fights Indian banks' attempt to recover dues in UK
5 years, 9 months ago

Vijay Mallya fights Indian banks' attempt to recover dues in UK

India Today  

Embattled liquor tycoon Vijay Mallya on Wednesday faced yet another legal battle to prevent a consortium of Indian banks led by State Bank of India getting access to nearly 260,000 pounds in a UK bank account. The 62-year-old is contesting an interim debt order obtained by the Indian banks in January this year, which relates to funds in the former …

Sale of Vijay Mallya’s United Breweries shares fetch ₹1,008 crore: ED
5 years, 9 months ago

Sale of Vijay Mallya’s United Breweries shares fetch ₹1,008 crore: ED

Live Mint  

New Delhi: The sale of over 74 lakh shares held by absconding businessman Vijay Mallya in United Breweries Holdings Ltd by Bengaluru-based Debt Recovery Tribunal has fetched ₹1,008 crore, the Enforcement Directorate said Wednesday. ED said the UBHL shares attached by the agency as part of its money laundering probe against Mallya were lying with Yes Bank. "Based on the …

Sale of Vijay Mallya's shares worth Rs 1,000 cr cleared; liquidator to sell 7.4 mn United Breweries' stocks today
5 years, 9 months ago

Sale of Vijay Mallya's shares worth Rs 1,000 cr cleared; liquidator to sell 7.4 mn United Breweries' stocks today

Firstpost  

This is the first sale of Vijay Mallya’s confiscated assets by the authorities since he left the country in March 2016 Mumbai: In a major step to partly recover outstanding dues from Vijay Mallya, a PMLA court on Tuesday rejected United Breweries Holdings’ plea to stay the proposed sale of shares worth around Rs 1,000 crore of its erstwhile subsidiary …

Attached Vijay Mallya shares were part of unpaid Yes Bank loan
5 years, 9 months ago

Attached Vijay Mallya shares were part of unpaid Yes Bank loan

India Today  

Proactive measures by the Enforcement Directorate have helped the SBI-led consortium of banks recover Rs 1,008 crore worth of NPA through the sale of United Breweries Ltd shares that were held by Vijay Mallya. ED's investigation in the Vijay Mallya/Kingfisher Airlines case has revealed that substantial assets in the form of United Breweries Limited's shares were lying with Yes Bank. …

United Spirits Ltd., United Breweries Holding Ltd. And Vijay Mallya Are Separate Entities: Sr. Advocate P Chidambaram
5 years, 10 months ago

United Spirits Ltd., United Breweries Holding Ltd. And Vijay Mallya Are Separate Entities: Sr. Advocate P Chidambaram

Live Law  

United Spirits Limited argued before the Karnataka High Court that despite the fact that USL has repaid the entirety of its loan from IDBI, the bank is incorrectly refusing to release the securities. The bank is maintaining that it is holding the securities on the ground that loans taken by Kingfisher Airlines Limited remain unpaid. He argued that as USL …

Vijay Mallya faces bankruptcy proceedings in UK high court
6 years ago

Vijay Mallya faces bankruptcy proceedings in UK high court

Live Mint  

London: Embattled liquor tycoon Vijay Mallya’s legal troubles continue to mount as he is set to face bankruptcy proceedings in the UK High Court next year, brought by a consortium of Indian banks in their attempt to recoup unpaid debt worth nearly 1.145 billion pounds. TLT LLP, the UK-based law firm which had won a landmark case for the 13 …

CBI likely to file chargesheet against Vijay Mallya in a month, bank officials also to be named as accused
6 years, 3 months ago

CBI likely to file chargesheet against Vijay Mallya in a month, bank officials also to be named as accused

Firstpost  

CBI has already filed a charge sheet against Mallya in 2017 in connection with a separate case related to Rs 900 crore pending loan given by IDBI bank in which senior officials of the bank were allegedly involved New Delhi: Many senior bank officials who had dealt with loans given to liquor baron Vijay Mallya’s Kingfisher Airlines may be named …

Vijay Mallya ‘willing’ to return to India as ED moves to seize property
6 years, 5 months ago

Vijay Mallya ‘willing’ to return to India as ED moves to seize property

Live Mint  

New Delhi: In what could potentially spell victory for India’s investigating agencies, liquor baron Vijay Mallya has informed the Enforcement Directorate of his “willingness to return,” a person familiar with the development confirmed. Mallya’s change of heart, this person confirmed, happened after the agency had moved to confiscate his assets in India and abroad under the Fugitive Economic Offenders Ordinance. …

Vijay Mallya seeks to sell $2 billion in assets to settle bank dues
6 years, 6 months ago

Vijay Mallya seeks to sell $2 billion in assets to settle bank dues

Live Mint  

Mumbai: Businessman Vijay Mallya, who is being pursued by Indian authorities over unpaid loans tied to his defunct Kingfisher Airlines Ltd, said on Tuesday he was trying to sell assets worth about ₹ 13,900 crore to repay creditors. Mallya said in a statement he and his United Breweries Holdings Ltd filed an application on 22 June before a regional high …

Vijay Mallya seeks to sell assets worth ₹13,900 crore to settle dues
6 years, 6 months ago

Vijay Mallya seeks to sell assets worth ₹13,900 crore to settle dues

Hindustan Times  

Fugitive Indian businessman Vijay Mallya has sought court approvals to sell some frozen assets worth about 13,900 crores, making a fresh attempt to settle bank dues owed by his now-defunct Kingfisher Airlines Ltd. Mallya, 62, is fighting numerous lawsuits in the UK and India over fraud and money-laundering allegations after Indian lenders. Mallya and his United Breweries Holdings Ltd filed …

ED seeks 'fugitive' tag for Vijay Mallya under new ordinance
6 years, 6 months ago

ED seeks 'fugitive' tag for Vijay Mallya under new ordinance

ABP News  

New Delhi, June 22 : The Enforcement Directorate on Friday filed an application before a special Mumbai court for declaring liquor baron Vijay Mallya as a fugitive economic offender. Two separate Enforcement Case Information Reports were registered by ED under Prevention of Money Laundering Act, 2002 for an investigation into the offense of Money Laundering, against Mallya, Kingfisher Airlines, United …

Vijay Mallya diverted over Rs 3,700 cr bank loan funds to F1, IPL, for private jet sorties, says ED chargesheet
6 years, 6 months ago

Vijay Mallya diverted over Rs 3,700 cr bank loan funds to F1, IPL, for private jet sorties, says ED chargesheet

Firstpost  

ED named Vijay Mallya and his firms - Kingfisher Airlines Limited and United Breweries - in its voluminous prosecution complaint filed before a special Mumbai court under the Prevention of Money Laundering Act. The Enforcement Directorate on Monday charged embattled liquor baron Vijay Mallya and his two firms for fraudulently “diverting” over Rs 3,700 crore bank loan funds to a …

ED files fresh charge sheet against embattled ex-liquor baron Vijay Mallya; prepares for fugitive tag
6 years, 6 months ago

ED files fresh charge sheet against embattled ex-liquor baron Vijay Mallya; prepares for fugitive tag

Firstpost  

The ED had last year filed its first charge sheet against Vijay Mallya, now in London, in the alleged Rs 900-crore IDBI Bank-Kingfisher Airlines loan fraud case The Enforcement Directorate on Monday filed a fresh charge sheet against embattled former liquor baron Vijay Mallya, two companies linked to him and others on charges of money laundering, for allegedly cheating a …

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