Liquor baron Mallya still has pledge-free assets more than Rs 5,500 crore

Author yuvamind

Bengaluru: According to the report, Amid all the racket related to liquor Baron Vijay Mallya’s loan-default case, there is good news for lenders that the involved businessman still has promise-free assets worth more than Rs 5,500 crore to return guarantees provided by him and his UB Holdings
As per the report, the given free amount can easily be used as security against loans of about Rs 7,000 crore to Kingfisher Airlines. However, the report also adds, if Mallya doesn’t provide full cooperation, it may take years for the lenders to get the assets attached through court. Till now, lenders have sold Rs 1,244 crore worth of shares of United Spirits which was the pledged amount. About Rs 1,250 crore is still stuck in courts and out of which Rs 650 crore was deposited by SREI.
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