Shares worth Rs 100 cr of Vijay Mallya's assets transferred to Centre: Sources

The Enforcement Directorate has begun impounding of assets of embattled businessman Vijay Mallya after the agency attached it under Prevention of Money Laundering Act (PMLA), sources said.

According to Indian Express, the Stock Holding Corporation of India Ltd (SHCIL) has transferred share worth Rs 100crore of United Breweries Ltd to central government.

The move was initiated two months ago when the agency wrote to SHCIL, asking the depository to transfer the title and rights of non-pledged shares of UBL, United Spirits Ltd (USL) and McDowell Holdings Ltd worth Rs 4,000 crores under section 9 of PMLA.

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The reports say that the central agency had attached these shares in September 2016 in connection with loan default of Kingfisher Airlines.  

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