Mumbai: Kingfisher Airlines parent company UBHL chairman, Vijay Mallya, has moved the Bombay High Court against the company’s 17 lenders, including SBI Caps Trustee Company, to stop the recovery process. Filed on March 26, the case has been posted for hearing on June 21. Kingfisher Finvest is also party to the case.Private banks Axis, ICICI and State owned banks together have to get Rs7000 crore. After several defaults in payments and ultimatums the lenders decided to start the recovery process. SBI which leads the lenders has not got a court notice on the suit filed under the Code of civil procedure Act 1908.
SBI claimed on May 7, that the consortium of banks, led by it , had so far recovered Rs 800-1,000 crore from Kingfisher Airlines , and was in the process of recovering the remaining entire Rs 6,000 crore.Now if the court accepts Mallya case , the recovery process will slow down.
27/05/13 Ayyappa Prasad/TruthDive
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SBI claimed on May 7, that the consortium of banks, led by it , had so far recovered Rs 800-1,000 crore from Kingfisher Airlines , and was in the process of recovering the remaining entire Rs 6,000 crore.Now if the court accepts Mallya case , the recovery process will slow down.
27/05/13 Ayyappa Prasad/TruthDive
