New Delhi: HDFC Ltd has invoked 35,000 stocks of United Spirits pledged to it by way of Kingfisher Finvest India, a firm promoted by way of embattled businessman Vijay Mallya.
In a communication to BSE, Kingfisher Finvest India said it had pledged positive shares in USL to HDFC to comfy loan given to United Breweries (Holdings).
On June 22, HDFC undertook “unilateral invocation” of 35,000 shares, amounting to 0.02 per cent stake in USL, it introduced.
On the basis of the day before today‘s closing rate of Rs 2,414.20, the invoked stocks are well wortharound Rs eight.forty five crore.
As in step with the filing, the last stocks of USL pledged by using Kingfisher Finvest India (KFI) now stand at 10.15 lakh. HDFC had invoked three lakh stocks of USL in March this year and 1.5 lakh in November 2015.
creditors of the defunct Kingfisher airlines have been taking numerous steps to get better their dues. A 17-bank consortium led by means of SBI has been seeking to get better the dues, that have ballooned to over Rs 9,000 crore after taking into account the interest factor, from Mr Mallya, who has been declared a ‘wilful defaulter’.
(This story has now not been edited by using NDTV group of workers and is automobile-generated from a syndicated feed.)
story first posted on: June 23, 2016 20:thirteen (IST)