Rs 1376 crore of UB Holding assets attached in Mallya's money laundering case

UB Holdings said, "It is in consultation with its legal counsels for filing an appeal against the said order of the adjucating authority and to take appropriate steps that may be required in this regard. "

Rs 1376 crore of UB Holding assets attached in Mallya's money laundering case
Directorate of Enforcement has attached properties worth Rs 1376 crore in money laundering cases registered against Kingfisher Airlines (KFA) and Vijay Mallya. Photo: PTI
Written By: ZeeBiz WebTeam
Updated: Fri, Dec 09, 2016
12:48 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Jet Airways employees union wants govt intervention to avoid Kingfisher Airlines-like collapse Jet Airways employees union wants govt intervention to avoid Kingfisher Airlines-like collapse
After Jet Airways bailout Vijay Mallya criticises public sector banks for After Jet Airways bailout Vijay Mallya criticises public sector banks for "double standards"
State of aviation: Domestic carriers owe Rs 2,448 cr dues to Airports Authority of India State of aviation: Domestic carriers owe Rs 2,448 cr dues to Airports Authority of India

United Breweries Limited Holdings (UBLH) on Friday said that Directorate of Enforcement has attached properties worth Rs 1376 crore in money laundering cases registered against Kingfisher Airlines (KFA) and Vijay Mallya. 

UB Holdings said, "It is in consultation with its legal counsels for filing an appeal against the said order of the adjucating authority and to take appropriate steps that may be required in this regard. "

Three of the properties attached were Canberra Tower, UB Mall and under construction flats of Kingfisher Towers valued at Rs 712. 94 crore, Rs 175.73 crore and Rs 398.04 crore, respectively. 

Shares of UBLH were trading at Rs 42.20 per shareon BSE, up by 0.60%. However, before the announcement it was above Rs 43-mark.

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.