Court allows sale of Mallya's shares worth Rs 1000 cr; liquidator to sell 7.4 mn UBL stocks

In a major step to partly recover outstanding dues from Vijay Mallya, a PMLA court Tuesday rejected United Breweries Holdings' plea to stay the proposed sale of shares worth around Rs 1,000 crore of its erstwhile subsidiary United Breweries (UBL) by a court-appointed liquidator. Special judge MS Azmi rejected their plea on the ground that the court may not have the powers to grant a stay on the proposed sale.

from IndiaTV: Google News Feed https://ift.tt/2YBlzdU