A consortium of banks led by State Bank of India (SBI) has realised Rs 792.11 crore by sale of shares in the Kingfisher Airlines/ Vijay Mallya case, the Enforcement Directorate said on July 16. These shares were handed over by the ED to the consortium.
Earlier, the same consortium had recovered Rs 7,181.50 crore by liquidating assets handed over by the ED. In addition, assets worth Rs 1,060 crore have been allowed to the banks by Fugitive Economic Offense Court in the Nirav Modi case and Rs 329.67 crore has been confiscated by the ED under the provisions of the Fugitive Economic Offenders Act.
DAILY UPDATE:
~Big Relief! GST to be paid only on profit earned on resale of second-hand jewellery, AAR clarifies.
~ED conducts searches against Videocon group, promoters in money-laundering case.
~Complied with 85% of asks on tech, RBI to take call on lifting ban on issuing new credit cards: HDFC Bank.
~SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines’ shares in Vijay Mallya case.
~Reliance retail acquires controlling stakes in Justdial for Rs 3500 Cr.
