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[Vijay Mallya-UBHL] About Rs 3,600 Crore Recovered, Rs 11,000 Crore Still Due, SC Told; Dismisses UBHL's Appeal Against Winding Up

The Supreme Court on Monday dismissed United Breweries Holdings Ltd.'s appeal against the Karnataka High Court's decision as regards its winding up for recovery of dues payable to Kingfisher airlines. "900 crores, which is the amount of the loan disbursed by the IDBI", said Mr. Desai. "SBI has a decree worth 15000 crores", replied Mr. Rohatgi. "But the winding up …

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 …

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 …

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

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 …