ED Attaches 100 Cr shares of Vijay Mallya

New Delhi Sept 18: The Enforcement Directorate (ED) has started the process of seizing the assets of Vijay Mallya, Chairman of the non-operational Kingfisher Airlines Ltd under the Prevention of Money Laundering Act.

Sources say that Shares, worth Rs 100 crore, held directly or indirectly by Mallya in United Breweries Ltd (UBL) were transferred by Stock Holding Corporation of India Ltd (SHCIL) to the central government.

ED wrote to SHCIL two months ago to transfer the title and rights of unpledged shares of UBL, United Spirits Ltd (USL) and McDowell Holdings Ltd valued at Rs 4,000 crore held by Mallya and his associate firms.



Vijay Mallya was removed as a director from United Breweries in August after SEBI has barred him from holding any managerial or director position of a listed company.

Currently, the fugitive who is in London owes more than Rs 9,000 crore to 17 lenders which includes Axis Bank, IDBI Bank, SBI, Punjab National Bank, Bank of India, Bank of Baroda, United Bank of India, Central Bank, UCO Bank, Corporation Bank, Indian Overseas Bank, Federal Bank, Punjab and Sind Bank and others.