Bangalore: In a shock to creditors, Judge Anand Byrareddy on Friday recused himself from the proceedings in winding-up petitions admitted against UB Holdings Ltd, saying one of UB Group Chairman Vijay Mallya's affiliates in the case had engaged a law firm that employed his son.
Byrareddy has been hearing the winding-up petitions filed in the company court against the principal holding company of the UB Group.
In two months, Byrareddy had admitted four winding-up petitions against Vijay Mallya's UB Group companies filed by creditors, seeking the winding-up and liquidation of UB Holdings and Kingfisher Airlines.
Two orders were passed in favour of BNP Paribas and Avions de Transport Regional fighting for dues from UB Holdings, while two were in favour of Aerotron and a consortium of banks led by State Bank of India, fighting for loan recovery from Kingfisher Airlines.
Creditors had moved the court to recover dues of Rs 600 crore from UB Holdings and Rs 7,400 crore from Kingfisher.
25/01/14 Antonita Madonna/Business Standard
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Byrareddy has been hearing the winding-up petitions filed in the company court against the principal holding company of the UB Group.
In two months, Byrareddy had admitted four winding-up petitions against Vijay Mallya's UB Group companies filed by creditors, seeking the winding-up and liquidation of UB Holdings and Kingfisher Airlines.
Two orders were passed in favour of BNP Paribas and Avions de Transport Regional fighting for dues from UB Holdings, while two were in favour of Aerotron and a consortium of banks led by State Bank of India, fighting for loan recovery from Kingfisher Airlines.
Creditors had moved the court to recover dues of Rs 600 crore from UB Holdings and Rs 7,400 crore from Kingfisher.
25/01/14 Antonita Madonna/Business Standard
