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Banks can now sell Mallya’s Rs 5,646 cr properties, securities
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The assets including several floors of the UB City commercial tower in Bengaluru’s central business district and shares in United Breweries and United Spirits that Mallya had controlled are estimated to be valued at ₹5,646.54 crore.
Agencies
Mallya’s counsel had challenged the jurisdiction of the PMLA court in this case.
A State Bank of India-led consortium can now move to sell certain real estate properties and securities belonged to Vijay Mallya to recover unpaid loans, after a court lifted the claim of the Enforcement Directorate on the assets it had seized.
United Spirits plans strategic review of core brands thespiritsbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thespiritsbusiness.com Daily Mail and Mail on Sunday newspapers.