Vijay Mallya's pledged share sale fetches over Rs 1000 crore

Move will help SBI-led consortium to reduce large outstanding debt against Kingfisher Airlines

The Karnataka Debt Recovery Tribunal has recovered Rs 1,008 crore by liquidating shares of United Breweries held by fugitive offender Vijay Mallya (pictured). 

These shares have been attached by the Enforcement Directorate (ED) in connection with money laundering probe involving Mallya and debt-laden Kingfisher Airlines, the enforcement agency said on Wednesday. The move will help State Bank of India- (SBI)-led bank consortium to reduce its large outstanding debt against Kingfisher Airlines and Mallya. This is among the big recovery action taken by the authorities since Mallya left India in 2016. The shares were pledged as collateral with YES Bank by then