{"source_url": "https://www.thehindu.com", "url": "https://www.thehindu.com/news/national/banks-allowed-to-utilise-mallyas-movable-assets-to-clear-debt/article30450404.ece", "title": "Banks allowed to utilise Mallya\u2019s movable assets to clear debt", "top_image": "https://www.thehindu.com/business/article20665132.ece/ALTERNATES/LANDSCAPE_615/TH23BUMALLYA", "meta_img": "https://www.thehindu.com/business/article20665132.ece/ALTERNATES/LANDSCAPE_615/TH23BUMALLYA", "images": ["https://sb.scorecardresearch.com/p?c1=2&c2=123456&cs_ucfr=1&cv=2.0&cj=1", "https://th.thgim.com/static/theme/default/base/img/author-deafault.png", "https://www.thehindu.com/analysis-logger/Logger?rt=1&ctxId=162&contextPath=16-157-162-&pubId=2&cat=&meta=read-story&objId=30450404&type=article&title=Banks+allowed+to+utilise+Mallya%e2%80%99s+movable+assets+to+clear+debt&url=https%3a%2f%2fwww.thehindu.com%2fnews%2fnational%2fbanks-allowed-to-utilise-mallyas-movable-assets-to-clear-debt%2farticle30450404.ece", "https://www.thehindu.com/news/7uxv4l/article25732806.ece/alternates/FREE_300/img-responsive", "https://trc.taboola.com/1179651/log/3/unip?en=page_view", "https://th.thgim.com/static/theme/default/base/img/logo.png", "https://th.thgim.com/static/theme/default/base/img/logo-sq.png", "https://th.thgim.com/static/img/1x1_spacer.png", "https://www.thehindu.com/business/article20665132.ece/ALTERNATES/LANDSCAPE_615/TH23BUMALLYA"], "movies": [], "text": "A special court here has permitted a consortium of 15 banks led by the State Bank of India (SBI) to utilise movable assets of former liquor baron Vijay Mallya towards repayment of his debt.\n\nThe assets, comprising financial securities like shares of the United Breweries Holdings Ltd (UBHL), were attached by the special Prevention of Money Laundering Act (PMLA) court in 2016 when it declared Mallya a proclaimed offender.\n\nUnder provisions of the Criminal Procedure Code, a court orders attachment of a person\u2019s movable assets after he or she has been declared a proclaimed offender.\n\nA person against whom a warrant has been issued can be declared a proclaimed offender if the court believes that he or she has absconded or is evading execution of warrant.\n\nThe consortium of banks earlier filed an application before the special court, seeking release of Mallya\u2019s movable assets to utilise them for repayment of loans given to him.\n\nSenior counsel Rajeev Patil, appearing for the consortium, said the special court on Tuesday lifted the attachment on the movable assets.\n\nThe court has, however, stayed its order till January 18 to enable the parties concerned to approach the Bombay High Court in appeal.\n\nSenior counsel Amit Desai, appearing for Mallya, said the court has ordered lifting of attachment of assets, which are UBHL shares.\n\n\u201cHowever, we do not know if the court has ordered for the assets to be restored to SBI or the consortium. We are waiting for the order copy for further clarity,\u201d Mr. Desai said.\n\nMallya, who is accused of money laundering by the Enforcement Directorate, fled India in March 2016 and is now based in London.\n\nThe lenders in their application said they want to liquidate assets to claim over \u20b96,000 crore.", "keywords": [], "meta_keywords": ["Vijay Mallya", "Mallya\u2019s movable assets", "Vijay Mallya assets", "UBHL", "United Breweries Holdings Ltd"], "tags": ["Fact Check", "The Hindu Explains", "population and census", "economic offence/ tax evasion", "armed Forces", "Tamil cinema", "Uttar Pradesh", "Citizenship Amendment Act", "corporate crime", "economy, business and finance", "railway", "corruption & bribery"], "authors": ["Party Releases A Booklet On Modi S Claims Over Caa", "At The Core Of The Nearly Ram Janmabhoomi-Babri Masjid Dispute Is The Belief That Lord Ram Was Born Years Ago In The Treta Yuga", "In A Room Located Under What Was The Central Dome Of The Babri Masjid"], "publish_date": null, "summary": "", "article_html": "", "meta_description": "The consortium of banks earlier filed an application, seeking release of Mallya\u2019s movable assets.", "meta_lang": "en", "meta_favicon": "https://www.thehindu.com/thfavicon.ico", "meta_data": {"viewport": "width=device-width, initial-scale=1.0", "title": "Banks allowed to utilise Mallya\u2019s movable assets to clear debt", "atdlayout": "articlepage", "description": "The consortium of banks earlier filed an application, seeking release of Mallya\u2019s movable assets.", "keywords": "Vijay Mallya,Mallya\u2019s movable assets,Vijay Mallya assets,UBHL,United Breweries Holdings Ltd", "news_keywords": "Vijay Mallya,Mallya\u2019s movable assets,Vijay Mallya assets,UBHL,United Breweries Holdings Ltd", "publish-date": "2020-01-01T14:38:59+05:30", "created-date": "2020-01-01T14:38:59+05:30", "modified-date": "2020-01-01T14:40:32+05:30", "twitter": {"creator": "PTI", "title": "Banks allowed to utilise Mallya\u2019s movable assets to clear debt", "description": "The consortium of banks earlier filed an application, seeking release of Mallya\u2019s movable assets.", "image": "https://www.thehindu.com/business/article20665132.ece/ALTERNATES/LANDSCAPE_615/TH23BUMALLYA", "card": "summary_large_image", "site": "@The_Hindu", "domain": "thehindu.com", "app": {"name": {"ipad": "The Hindu", "googleplay": "The Hindu (Official App)", "iphone": "The Hindu for iPhone"}, "id": {"googleplay": "com.mobstac.thehindu", "iphone": 771672321}}}, "apple-itunes-app": "app-id=584786636", "google-play-app": "app-id=com.mobstac.thehindu", "fb": {"app_id": 137450626398044, "pages": 163974433696568}, "og": {"site_name": "The Hindu", "url": "https://www.thehindu.com/news/national/banks-allowed-to-utilise-mallyas-movable-assets-to-clear-debt/article30450404.ece", "type": "article", "title": "Banks allowed to utilise Mallya\u2019s movable assets to clear debt", "description": "The consortium of banks earlier filed an application, seeking release of Mallya\u2019s movable assets.", "image": {"identifier": "https://www.thehindu.com/business/article20665132.ece/ALTERNATES/LANDSCAPE_615/TH23BUMALLYA", "type": "image/jpeg"}}, "article": {"author": "PTI", "tag": "United Breweries Holdings Ltd", "section": "National"}, "msvalidate.01": "00762243DAFA333A5A6D97CE4545BDB2", "yandex-verification": "ff4648e5089d361d", "ahrefs-site-verification": "6df5b97abf2ea60f2d4123265496b92b4faa009ceff5444e0b8482ebddd508d6", "theme-color": "#fff"}, "canonical_link": "https://www.thehindu.com/news/national/banks-allowed-to-utilise-mallyas-movable-assets-to-clear-debt/article30450404.ece"}