SBI-Led Consortium Gets Over Rs 5,800 Crore In Vijay Mallya Case

These shares were attached under the Prevention of Money Laundering Act (PMLA) by the Enforcement Directorate.

A State Bank of India (SBI)-led consortium that lent 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 Enforcement Directorate said. Mr Mallya is accused in a multiple banks loan default case of about Rs 9,000 crore. 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 Mr Mallya in Mumbai. These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency.