State Bank of India (SBI) has moved the Karnataka High Court to seek rightsover a 2.8 percent stake in United Breweries Ltd (UBL), according to a report in The Economic Times.
SBI's stake, worth Rs 1,025 crore, is currently held by a court-appointed liquidator.
The stake was previously owned by United Breweries (Holdings), the holding company for all companies owned by Vijay Mallya.
Heineken, UBL's largest shareholder with a 44 percent stake, has reportedly approached SBI to seek first access over the stake.
Moneycontrol could not independently verify the report.
The Debt Recovery Tribunal last week transferred the stake, about 7.4 million shares, to a court-appointed liquidator.
These shares were earlier attached by the Enforcement Directorate, which is investigating allegations of money laundering against Mallya..
"It’s been tough on Heineken as a shareholder to keep track of the attachment of Vijay Mallya's shares in UBL…their focus is to ensure 51 percent in the company," a source told the paper.
The Karnataka High Court will hear the mater on March 22.
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