Banks to sell Mallya's 5500 crores breweries

A source said banks would be able to sell shares to recover their dues in the ongoing quarter

A source said banks would be able to sell shares to recover their dues in the ongoing quarter

After the Prevention of Money Laundering Act (PMLA) court nods on the recovery of the money from Vijay mallya using his collaterals which he kept with the banks while inquiring loans will be now sold for the recovery of the money. SBI is initiating discussions with SBI caps to sell Vijay Mallya's 16.15 stakes at the United breweries group which are worth rupees 5500 crores."SBI Capital markets would be acting as a bridge between us (lenders) and prospective buyers of these holdings," a official said. The PMLA court after ordering to sell Mallya's properties also added that if he is not found guilty then the property sold out by the banks now has to be restored and given back to him."Banks will like to recover dues from Mallya as soon as possible,"  a senior public sector bank executive  said.

More

SPORTS

IPL 2021 Final

IPL 2021 Finals, to be played between CSK and KKR, know the venue, predicted XI, and weather

The 2021 IPL Finals will see MS Dhoni’s Chennai Super Kings and Eoin Morgan Kolkata Knight Riders in the power-packed, high octane grand finale...

T20 World Cup

Indians to face Australians in warm up matches of the T20 World Cup

India is going to take along England and Australia during the two warm up games, and will be further gearing up for the upcoming T20 World Cup matches...

States & UTs

Delhi Government

NCPCR Sends Notice to Delhi Government

The National Commission for Protection of Child Rights (NCPCR|) has pulled up the Delhi authorities over a promotional video. A criticism on this rega...

Singhu protest

At Singhu protest site, dead man with wrist cut off found tied to barricade

The frame of an unidentified guy with one in every of his wrists chopped off turned into discovered close to the farmers’ protest web website on...

POLITICS

PM Modi

The center's 7 new defense companies will become one giant military base: PM Modi

Prime Minister Narendra Modi on Thursday launched seven new companies that will enter the defense se...

Akhilesh Yadav (Samjwadi Vijay Yatra)

Akhilesh Yadav Sounds Like A Bugle For Polls In Uttar Pradesh, Launches "Samjwadi Vijay Yatra" Across The Country

Samajwadi Party spokesman Rajendra Chaudhary said that after exiting Ganga Bridge, the yatra will ta...

ENTERTAINMENT

Sardar Udham Movie (Pic Credit: Amazon Prime Video)

Vicky Kaushal Film is recreates Horrors of Jallianwala Bagh Massacre.(Sardar Udham Movie Review)

Sardar Udham is an exclusive recreation altogether from the movies Shoojt Sircar has directed so far...

Aryan Khan,Gauri Khan & SRK

Aryan Khan had video call with Gauri Khan & SRK and received money order of Rs4500

Aryan Khan received a money  order for Rs 4,500 to order food and other items from the Arthur R...

About

The Live Newz is an independent, budding and online news portal that came into existence recently. Our mission is to create and deliver the finest news for the readers. We act as a cutting-edge platform that provides the users with every update on recent happenings. We aspire to be true to the journalistic values and maintain the standard of its excellence by presenting the truth to the readers.