Kingfisher Airlines withdraws its plea in SC

Monday, 21 July 2014 - 7:07pm IST | Agency: PTI

Kingfisher Airlines today withdrew in the Supreme Court its appeal against Karnataka High Court's verdict allowing a consortium of banks led by SBI to take possession of its prestigious property Kingfisher House in Mumbai.

As soon as the matter came for hearing before a bench headed by Justice J S Khehar, the company pleaded the court to allow it to withdraw the petition.

The Airlines had moved the Supreme Court challenging the high court's January 29 verdict that allowed a consortium of banks to take possession of Kingfisher House.

The banks seeking possession and sale of the property are State Bank of India, Axis Bank Ltd, Bank of Baroda, Bank of India, Central Bank of India, Corporation Bank, Federal Bank Ltd, IDBI Bank Ltd, Indian Overseas Bank, Jammu & Kashmir Bank Ltd, Punjab & Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, and United Bank of India.