Vijay Mallya: Mallya's way, UBL 7,500 was safely priced as long as Kingfisher had a & # 39; appear


NEW DELHI: Kingfisher Airlines Ltd (KAL) promoters, including a alcohol barrier connected to Vijay Mallya and United Breweries Holdings Ltd (UBHL), possessed many of mobile transmissions in the form sections of public companies that were limited but did not; Demonstrating a resolution to clear bank taxes by these instruments, an Implementation Agency (ED) analysis of the issues of the remaining airplanes has now emerged.

ED inspections under the Money Disposal Act (PMLA) provisions, 2002, have found that some Malea and UBHL hold sections of 3,347.45 crore in a number of limited public companies of the group.

Indeed, Mallya's total of 1,773.49 crore (as of August 12, 2016) in the UBHL, United Spirits, United Breweries and Mcdowell sections, aims to promise a tune of 1,653 crore / on to be included with UTI Investor Services South West

However, the ED survey of the compelling sections of Mallya with UTI Investor Services revealed that the spell was not removed / cleared although the same thing had already been liable to be cleared. This means not b & # 39; The banks can attach the shares to their taxes because a transfer of shares can not be made under the settlement.

"These facts again reveal the purpose of Vijay Mallya about paying the taxes to the banking consortium. If he was so enthusiastic and willing to reimburse, he would He has acquired possession of these sections and has used them for their reimbursement, "the inspection reported a report on the ED in the provisional connection order.

The ED research has also questioned the real reason for a network of affiliate companies and an inventory created under the Mallya empire, including UBHL, another KAL parent. Together some of these units hold valuations valued at Rs 3,822 crore limit (as of August 2016), but Mallya did not reveal his interest in some of these companies, so that & # 39; problem solving.

The business of those companies that include names such as Devi Investment, Kingfisher Finvest, Mcdowell Holdings, Trade Pharma Company, Gem Investment and Trading, Watson Ltd, Vittal Investment, Kamsco Industries, Firstart Inc. and Mallya Pvt Ltd were the investment companies of UB Group no Mallya or their family or tire companies in the name of UB staff who did not have real activities and the basis of an independent income but was directly controlled or indirectly with Mallya.

The value of the shares that are not held by investing organizations can provide about 1,800 crore that can be used to pay more than one third of a KAL loan . In addition to that, even against the aggregate sections of almost 2,000 crore of these units, a large amount of money could be taken out as a counterfeit loan but just 755 clay.

Depending on its findings, ED has decided that KAL was led by Mally involved in a crime of cash erasing and his / her. Creating `crimes of crime (PoC) through criminal offenses referred to as recorded crime. PoC is £ 4,235 crore of loans held against KAL where an ED survey is set to be unplanned at Mallya.

In addition to the sections, ED also asked to connect the construction flats in the Kingfisher Tower, Bengaluru, at the value of around £ 550 clay and palement with a farm house at Mandwa, Alibaug, £ 25 crore.

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