MUMBAI: A special purpose court dealing with money laundering offences has allowed banks that lent money to Vijay Mallya to utilise the embattled liquor baron’s seized assets, which could fetch the lenders about Rs 11,000 crore – more than what they had advanced.
However, the Prevention of Money Laundering Act (PMLA) court in Mumbai also said the ruling has been stayed till January 18, until which all parties affected by the order could appeal to the Bombay High Court.
The seized assets mainly comprise financial securities, such as shares.
