Bangalore: The High Court on Tuesday permitted the Axis Bank Ltd to sell two aircraft of Deccan Cargo and Express Logistics Pvt Ltd (Deccan 360), owned by civil aviation entrepreneur Captain G R Gopinath, to recover a loan of Rs 260 crore.
Hearing an interlocutory application by the bank, Justice Anand Byrareddy permitted it to sell off the two aircraft. The bank mentioned that two aircraft — ATR 72-202 aircraft MSN 455 and ATR 72-202 aircraft MSN 456 owned by the company — have been registered with the Directorate General of Civil Aviation.
He said the bank had opted to stay outside the winding-up proceedings and recover its dues, and sought directions of the court.
04/02/14 Deccan Herald
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Hearing an interlocutory application by the bank, Justice Anand Byrareddy permitted it to sell off the two aircraft. The bank mentioned that two aircraft — ATR 72-202 aircraft MSN 455 and ATR 72-202 aircraft MSN 456 owned by the company — have been registered with the Directorate General of Civil Aviation.
He said the bank had opted to stay outside the winding-up proceedings and recover its dues, and sought directions of the court.
04/02/14 Deccan Herald
