Banks recover Rs.1000 crore from sale of Mallya’s shares

The  Enforcement Directorate has said that consortium of banks which is led by the State Bank of India, have recovered over one thousand crore rupees from the sale of shares of fugitive offender Vijay Mallya. The amount was recovered by Bangalore based Debt Recovery Tribunal by the sale of over 74 lakh shares held by Mallya in the United Breweries Holdings Limited.  The shares attached by the agency is part of its money laundering probe against the liquor baron.