Bangalore: A Division Bench of the Karnataka High Court on Wednesday upheld the single judge bench decision of refusing to interfere with the action initiated by the consortium of banks for taking possession of ‘Kingfisher House’, a prime property at Mumbai owned by Kingfisher Airlines Ltd (KAL). A Division Bench comprising Justice Dilip B Bhosale and Justice B Manohar passed the order while dismissing the appeal filed by KAL question December 11, 2013 order of a single judge bench.
The Bench said that the single judge had rightly held that the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act, 2002 override the provisions of the Companies Act.
29/01/14 Krishnaprasad/Business Line
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The Bench said that the single judge had rightly held that the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act, 2002 override the provisions of the Companies Act.
29/01/14 Krishnaprasad/Business Line
