United Breweries Had Its ₹5,800 Crore Share Sold In Vijaya Maliya Case
- ByStartupStory | June 24, 2021
United Breweries Ltd opened the trade on a high note, and gained 2.81 % that is ₹1,497. 65. But the slide began soon and closed at ₹1,403 a low of 3.66 percent than Wednesday. Dutch major brewing company Heineken on Wednesday said it has acquired an additional 14.98 per cent stake in United Breweries, taking its total shareholding to 61.50 per cent.
In another development, the Debts Recovery Tribunal had United Breweries ₹5,800 crore share sold in Vijaya Maliya case. This money was earlier attached under the anti – money laundering laws a, part of an alleged bank fraud, against the Vijay Malaya, the fugitive liquor baron. Vijay Mallya, 65, had lost the case against his extradition to India and he has “been denied permission to file an appeal in the UK Supreme Court.” The entire matter was overlooked by the Enforcement Directorate said on Wednesday. Further realisation of Rs 800 crore by sale of shares is expected by June 25, the central probe agency said in a statement.
Recently, it was said, that the agency had transferred shares attached by it (worth about Rs 6,600 crore) to the SBI-led consortium as per order of the special Prevention of Money Laundering Act (PMLA) Mumbai. So, today, DRT on behalf of SBI-led consortium, has sold shares of United Breweries Limited for Rs 5824.50 crore,” the Enforcement Directorate.
Recently, it said, the agency had transferred shares attached by it (worth about Rs 6,600 crore) to the SBI-led consortium as per order of the special Prevention of Money Laundering Act (PMLA) Mumbai. Today, DRT on behalf of SBI-led consortium, has sold shares of United Breweries Limited for Rs 5824.50 crore,” the Enforcement Directorate said. The share sale, done through a series of block deals on the exchanges, was carried out after a special court in Mumbai allowed restoration of properties of Mallya and companies linked to him to the SBI-led consortium, earlier this month. Following the court order, ED transferred shares worth Rs 6,600 crore to the consortium of banks that lent money to Kingfisher Airlines.
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