Sale of Mallya’s UBHL shares gets Rs 1,008 crore

The 74 lakh shares of United Breweries Ltd (UBL) sold by the agency were held by United Breweries Holding Ltd (UBHL) and were pledged by Mallya to Yes Bank as security against a loan taken by his defunct Kingfisher Airlines. The money realized will help a consortium of government banks led by the SBI to recover loans turned NPAs exceeding more than Rs 9,000 crore.

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