 "Vijay Mallya")
Indian lenders, led by State Bank of India, have initiated talks with SBI Caps to sell Vijay Mallya-owned shares in United Breweries. Mallya's 16.15 per cent stake in the UB group is valued at Rs 5,500 crore and will be sold via block deals.
Earlier in the week, the Prevention of Money Laundering Act (PMLA) court in Mumbai had restored properties seized by the Enforcement Directorate (ED) from Mallya to banks that had granted loans to the fugitive businessman. The ED had seized assets worth Rs 9,000 crore from the former UB group chairman in connection with money laundering.
Mallya has been
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