The Enforcement Directorate has approached a special court under the Prevention of Money Laundering Act (PMLA) to sell the stake of Vijay Mallya in United Breweries Limited (BSE:532478) and United Spirits Limited (NSEI:UNITDSPR). Mallya's shares could be sold in the open market. According to ED sources, the amount accrued by selling the shares would be kept in fixed deposits till proceedings against him in various courts get completed.

The shares include those held in group companies, such as United Breweries (Holdings) Limited (BSE:507458), United Breweries and United Spirits. Probe agency approaches PMLA court, seeks approval to sell his personal shares.