SEBI attaches bank accounts, securities of United Breweries for defaulting on penalty payment

Vijay Mallya live bse live nse live Volume Todays L/H More × The Securities and Exchange Board of India (SEBI) has attached all bank accounts, mutual fund units and securities held by United Breweries Holdings Limited (UBHL), according to a report by The Economic Times. SEBI said that the Vijay Mallya-owned company has defaulted on payment of a Rs 1500000 penalty imposed by the regulator in 2015 for disclosure lapses. SEBI also said that the company is liable to pay a total of Rs 18.500000. The company is liable to pay the penalty along with an interest of 12% per annum, from November 2015 to November 2017, amounting to Rs 3.500000 and a recovery cost of Rs 1,000, the report said. SEBI has also asked banks and mutual funds to provide details of all United Breweries' accounts and has sought information of its loan accounts and collaterals. Vijay Mallya currently owns a 52.34% stake in the company. The liquor baron is in midst of an extradition case in the United Kingdom after the Central Bureau of Investigation (CBI) issued a non-bailable warrant against him in the Rs 7200000000 IDBI loan default case. The Debt Recovery Tribunal has also ordered a State Bank of India (SBI)-led bank consortium to begin the process of recovering more than Rs 9,0000000000 from Mallya.