TIL Desk/Business/New Delhi/ A State Bank of India (SBI)-led consortium that gave loans to fugitive businessman Vijay Mallya on Friday received Rs 5,824.5 crore in its accounts after shares of UBL, earlier attached under the anti-money laundering law, were sold recently, the ED said.
The disputes resolution tribunal (DRT) had sold these shares on June 23 after the Enforcement Directorate had transferred shares worth about Rs 6,624 crore of UBL to the SBI-led consortium on the directions of a special PMLA court that is hearing the case involving Mallya in Mumbai.
These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency. “Today, SBI led consortium received Rs 5824.5 crore in its account from the sale of shares of United Breweries Limited.” “The sale had taken place on 23.06.2021 as sequel to the transfer of the shares to the Recovery Officer by ED,” the central agency tweeted.
