Monday, September 11, 2017

HC gives two more months to valuate Kingfisher assets

The Karnataka High Court has extended by two months the time given to the Mumbai International Airport Private Limited to valuate the properties of Kingfisher Airlines on its premises. The Airport company is situated in the Chhatrapati Shivaji International Airport in Mumbai and more than 2,700 items belonging to Kingfisher are left lying there.
The High Court had ordered the winding up of Kingfisher Airlines on November 18, 2016. Kingfisher Airlines had various moveable assets situated at the airport.

The court had on July 6, 2017, ordered the airport company to submit a report of the valuation and auction of the assets of Kingfisher lying at the airport. This valuation was to be completed on September 6. The company filed an application before the HC submitting that it needed an “additional one and half months” to complete the same. Justice Vineet Kothari on September 7 ordered that “two months’ time is allowed for submitting the report.” The decision was arrived at as “the request is not opposed by the other learned counsels appearing and the same appears to be fair and reasonable.”
11/09/17 Bangalore Mirror