Mumbai: AAttempts by Kingfisher Airlines Ltd’s lenders to recover dues remain mired in legal processes with Vijay Mallya's company blocking banks from taking over the Kingfisher villa at Candolim in Goa.
A local court in Goa asked creditors to maintain status quo on the property and restrained them from “interfering” with the property, in an order passed on Friday. The move came after SBICAP Trustee Company, a wholly-owned subsidiary of SBI Capital Markets, said it had taken possession of the of the three-acre Kingfisher Villa in Goa on October 30.
“I am satisfied that as the plaintiff (UB Holdings) has duly deposited R35 crore before this court as directed to redeem the mortgage in respect of the suit property and as the order dated April 26, 2013, continues to operate, the plaintiff cannot be dispossessed from the suit property,” the court order said.
06/11/13 Fianancial Express
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A local court in Goa asked creditors to maintain status quo on the property and restrained them from “interfering” with the property, in an order passed on Friday. The move came after SBICAP Trustee Company, a wholly-owned subsidiary of SBI Capital Markets, said it had taken possession of the of the three-acre Kingfisher Villa in Goa on October 30.
“I am satisfied that as the plaintiff (UB Holdings) has duly deposited R35 crore before this court as directed to redeem the mortgage in respect of the suit property and as the order dated April 26, 2013, continues to operate, the plaintiff cannot be dispossessed from the suit property,” the court order said.
06/11/13 Fianancial Express
