BS Reporter | Bangalore
September 2, 2014 Last Updated at 23:30 IST
The move by SC not to intervene is another setback for Mallya, under threat of being ousted from three key boards of directors of his UB Group
The Supreme Court on Tuesday dismissed Kingfisher Airlines’ request to hear its plea against being tagged a “wilful defaulter” by Kolkata-based United Bank of India. The court said Kingfisher could, instead, appeal at the high court in Kolkata.
UBI on Monday declared Kingfisher chairman Vijay Mallyaand three other directors as wilful defaulters on non-payment of Rs 400 crore dues. The airline said this was done “post haste.”
This move by SC not to intervene is another setback for Mallya, under threat of being ousted from three key boards of directors of his UB Group — United Spirits, United Breweries and Mangalore Chemicals & Fertilisers. The woes is expected to compound as a consortium of lenders is aggressively looking at selling various pledged assets of UB Group to recover unpaid dues, totalling Rs 4,000 crore.
“KFA and its Directors will vigorously challenge the decision of UBI and we strongly deny the allegations of wilful default for alleged non-payment of Rs 7.5 crore to UBI. KFA and its Directors have not been given any opportunity to present their case through lawyers of their choice before UBI, who have come to a wrongful ex parte decision in great haste, when the question of legal representation was under challenge,” stated Kingfisher.
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