IT dept cautions against purchasing URBBL shares
Team Udayavani, Oct 26, 2018, 10:21 AM IST
Bengaluru: The Income Tax Department Thursday cautioned people against purchasing the shares of United Racing and Bloodstock Breeders Limited (URBBL), held by fugitive Vijay Mallya.
The I-T department’s warning comes as the Karnataka’s Debt Recovery Tribunal-II published a sale proclamation stating that e-auction of 41.52 lakh shares will be held on October 30 this year.
“This is to bring to the notice of the public that the Income Tax department has already created charge against the said shares on account of outstanding demand.
Therefore, suchsale/transfer of these shares will be void in terms of Section 281 of the Income Tax Act.
Any person purchasing such shareswill be doing so at their own risk,”the income tax department said in a statement. The income tax officials have written to the Karnataka Debt Recovery Tribunal too to put the e-auction on hold, said sources in the Income Tax department.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Karnataka CM directs officials to submit proposal for gold chariot for Goddess Chamundeshwari
Puttur: Abandoning labourer’s body — three, including prime accused, arrested
Dr. D. Veerendra Heggade sets record for ‘Largest Single-Man Collection of Antiques’
Bantwal: Three arrested in Thumbe temple theft case
Bengaluru: BBMP garbage truck driver dies after tree branch falls on him
MUST WATCH
Latest Additions
HC seeks Centre’s response on girl’s plea to expedite rare disease treatment
Mumbai Indians have got the playing 12; very happy to pair Bumrah with Boult: Akash Ambani
Air pollution: SC directs action against officials for ‘serious lapse’ in ensuring GRAP-IV curbs
PM Modi to attend 3-day all-India security conference in Odisha from Nov 29
Let truth come out: Kharge on Oppn demand for discussion, JPC on Adani issue
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.