A day after the Bombay High Court ruled in favour of lenders in the Kingfisher Airlines’ case, India’s largest lender State Bank of India (SBI) confirmed it would continue to sell shares of United Spirits, pledged with it. “There’s no stay from the court, so there?s no reason we will not do that,? Shyamal Acharya, the deputy managing director, mid-corporates, SBI, the lead-lender of a group of 17 banks, which lent to Kingfisher Airlines, said on the sidelines of an event on Wednesday.

Through his appeal to the court, KFA promoter Vijay Mallya sought to restrain banks from selling USL?s pledged shares for the next three weeks.

Acharya said the lenders had already sold around 7.3 lakh of the 26 lakh shares of USL pledged with them, in tranches at ?good prices?. It is learnt that the average realisation of banks has been around R1,840 per share.

?SBI Caps is the trustee of the shares. It has been given a floor-price and they are selling in lots and we have got good prices so far,? Acharya said, without disclosing the floor price. On Wednesday, shares of United Spirits ended at R1,822.60 per share on the Bombay Stock Exchange, down 2% from the previous close.

Acharya confirmed the way ahead will involve sending a notice under Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Act and moving debt recovery tribunal.