The ED said the State Bank of India (SBI)-led consortium had on Friday given loans to fugitive businessman Vijay Mallya, whose accounts got Rs 5,824.5 crore in his accounts after the recent sale of shares of UBL. .
Mallya is accused of non-payment of loans of about Rs 9,000 crore to several banks.
These shares were sold by the Disputes Resolution Tribunal (DRT) on June 23 after the Enforcement Directorate, on the direction of a special PMLA court, transferred UBL’s shares worth around Rs 6,624 crore to the SBI-led consortium, which was held by Mallya. Heard the related matter. Mumbai. The central probe agency ED had attached these shares under the Prevention of Money Laundering Act (PMLA).
“Today, the SBI-led consortium received Rs 5824.5 crore in its account from the sale of shares of United Breweries Ltd.” “The sale took place as a sequel to transfer of shares by ED to Recovery Officer on 23.06.2021,” tweeted the central agency. The company had earlier said that the remaining shares of around Rs 800 are expected to be sold and recovered in the accounts of SBI-led banks by June 25.
The ED had issued a statement on Wednesday saying that due to its “speedy” action in attaching and freezing nearly 40 per cent of the money lost by banks in the alleged frauds committed by fugitive businessmen Nirav Modi, Mehul Choksi and Mallya so far. has been recovered. Mallya, who had fled to the UK, is being probed by the ED and the CBI for an alleged bank fraud of Rs 9,000 crore related to the operations of the now defunct Kingfisher Airlines.
On Wednesday, the ED had said that banks had “recovered” Rs 1,357 crore from similar sale of shares in the case against Mallya. The liquor baron has lost his case against extradition to India and has been denied permission to file an appeal. The ED had said that his extradition to the UK Supreme Court, India is final.
Commenting on the development, Union Finance Minister Nirmala Sitharaman had tweeted on Wednesday that “Fugitives and economic offenders will be actively pursued; Their properties were attached and dues were recovered.”
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