The money owed restoration tribunal (DRT) has bought shares price over Rs 5,800 crore of United Breweries Restricted (UBL) that have been earlier hooked up beneath the anti-money laundering legislation as a part of an alleged financial institution fraud probe towards fugitive liquor baron Vijay Mallya, the Enforcement Directorate mentioned on Wednesday.
Additional realisation of Rs 800 crore by sale of shares is predicted by June 25, the central probe company mentioned in an announcement.
Just lately, it mentioned, the company had transferred shares hooked up by it (price about Rs 6,600 crore) to the SBI-led consortium as per order of the particular Prevention of Cash Laundering Act (PMLA) Mumbai.
“At this time, DRT on behalf of SBI-led consortium, has bought shares of United Breweries Restricted for Rs 5824.50 crore,” the ED mentioned.
Mallya, 65, has misplaced the case towards his extradition to India and he has “been denied permission to file enchantment within the UK Supreme Court docket.”
“His extradition to India has grow to be closing,” the ED mentioned.
(Solely the headline and film of this report might have been reworked by the Enterprise Commonplace employees; the remainder of the content material is auto-generated from a syndicated feed.)
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