Bengaluru: : The Debt Recovery Tribunal may pass orders on July 7 on an application by Kingfisher Airlines seeking amendment to its earlier written reply in response to the original application (OA) filed by a consortium of banks in the Vijay Mallya case.
Kingfisher, in its amendment application, has sought about Rs 3,000 crore from banks which it claims was to be given to it for proposed projects as per the agreement, resulting in the company incurring losses.
The airline, in its counter today, pleaded for allowing the application to meet justice, after quoting from earlier Supreme Court orders.
As soon as the Tribunal assembled for proceedings today, Kingfisher's counsel submitted it had incurred about Rs 3,000 crore loss as banks had not lent them money for new projects, which should have been maintained as per the agreement. Hence, the airline said it had introduced the amendment application.
05/07/16 PTI/Economic Times
To Read the News in full at Source, Click the Headline
Kingfisher, in its amendment application, has sought about Rs 3,000 crore from banks which it claims was to be given to it for proposed projects as per the agreement, resulting in the company incurring losses.
The airline, in its counter today, pleaded for allowing the application to meet justice, after quoting from earlier Supreme Court orders.
As soon as the Tribunal assembled for proceedings today, Kingfisher's counsel submitted it had incurred about Rs 3,000 crore loss as banks had not lent them money for new projects, which should have been maintained as per the agreement. Hence, the airline said it had introduced the amendment application.
05/07/16 PTI/Economic Times
