SEBI Attaches Bank, Demat, Mutual Fund Accounts Of Vijay Mallya’s UBHL?

The pending dues consist of the initial great of ₹15 lakh and hobby of ₹3.5 lakh and a restoration cost of ₹1,000.

Markets regulator SEBI has ordered attachment of bank accounts in addition to percentage and mutual fund holdings of defaulter businessman vijay mallya-led united breweries (Retaining) ltd. to get better dues totalling ₹18.5 lakh.

The decision has been taken after ubhl failed to pay the high-quality imposed on it. in 2015, the SEBI had levied a nice of ₹15 lakh on the enterprise for disclosure lapses regarding introduction and invocation of certain pledge transactions in stocks of united spirits.

The pending dues — totalling ₹18.5 lakh — consist of the preliminary excellent of ₹15 lakh and hobby of ₹3.5 lakh and a healing cost of ₹1,000.

In an attachment word dated november 13, the SEBI asked banks, depositories and mutual finances no longer to permit any debit from the debts of UBHL. however, credit have been accepted.

Further, the SEBI has directed the banks to connect all accounts, which include lockers, held by way of the defaulter.

“There’s sufficient cause to believe that the defaulter may additionally eliminate the amounts inside the bank accounts and securities within the demat bills held along with your bank, depository, mutual fund, and realisation of quantity due beneath the certificates might in result be not on time or obstructed,” the sebi stated.

Mr. Mallya held 7.91% stake in UBHL in his personal capacity as of december 2016 while the overall promoter holding via numerous entities stands at 52.34%, in line with the modern-day BSE information. he has been within the U.ok. since he left India on march 2, 2016.