NEW DELHI: The Enforcement Directorate (ED) has recovered Rs 1,008 crore via sale of Vijay Mallya’s shares in United Breweries Holdings Limited (UBHL), the agency informed on Wednesday.
“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 (Tuesday),” said an ED official.
The Debt Recovery Tribunal’s recovery officer had already published a notice early this month for sale of 74,04,932 shares of UBHL, ED said.
“Subsequently, shares were sold by the recovery officer on Wednesday and an amount of Rs 1,008 crore has been realised,” it said.
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According to the agency, the sold shares were attached as part of its probe into money laundering by the absconding liquor baron. The shares had been lying with Yes Bank. The Karnataka High Court had recently directed the bank to surrender these in favour of the Debt Recovery Tribunal in Bengaluru.
ED said it had filed a “detailed statement” before the special PMLA court in Mumbai and the Karnataka High Court to ensure these shares are not sold off by the accused. Officials say this was the first such sale of shares in this case and a few more will be sold in the days to come.