Bangalore: After UB Holdings Ltd, a winding-up petition has been admitted against Vijay Mallya’s grounded carrier Kingfisher Airlines Ltd. Justice Ananda Byrareddy admitted the petition filed by a consortium of banks led by State Bank of India on Friday.
Noting that Kingfisher Airlines has not opposed or responded to the creditors claiming that the company is commercially insolvent and hence unable to pay off its dues, the judge determined the claim bona fide and has prima facie admitted the petition. Kingfisher Airlines owes it creditors a total of Rs 7,400 crore and has been sued in various Courts for nonpayment of the same.
The news comes a day after Chairman Mallya was summoned to the Delhi High Court in relation to a case filed by Delhi International Airport Ltd over bounced cheques worth about Rs 1 crore from Kingfisher Airlines. In response, the company has said, “we always comply with the law and judicial orders.” Mallya has been ordered to appear in Court on February 14.
17/01/14 Antonita Madonna/Business Standard
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Noting that Kingfisher Airlines has not opposed or responded to the creditors claiming that the company is commercially insolvent and hence unable to pay off its dues, the judge determined the claim bona fide and has prima facie admitted the petition. Kingfisher Airlines owes it creditors a total of Rs 7,400 crore and has been sued in various Courts for nonpayment of the same.
The news comes a day after Chairman Mallya was summoned to the Delhi High Court in relation to a case filed by Delhi International Airport Ltd over bounced cheques worth about Rs 1 crore from Kingfisher Airlines. In response, the company has said, “we always comply with the law and judicial orders.” Mallya has been ordered to appear in Court on February 14.
17/01/14 Antonita Madonna/Business Standard
