Restore Vijay Mallya’s properties worth ₹5,646.54 crore to clear bank dues: PMLA court

The special Prevention of Money Laundering Act (PMLA) court, in two separate orders passed within the past 10 days, has directed restoration of properties worth ₹5,646.54 crores belonging to Kingfisher Airlines and fugitive businessman Vijay Mallya, to the State Bank of India (SBI) bank and its consortium. This will enable banks to sell these properties which were attached by the Enforcement Directorate (ED) during the probe, and recover dues.

The SBI heading the consortium of banks had approached the special PMLA court for release of the properties which were attached by the ED during the investigation into money laundering allegations against Mallya.