Debt recovery: HC orders winding up of Mallya's United Breweries

Justice Vineet Kothari pronounced the judgment through a video conference from Dharwad bench of High Court.

Published: 07th February 2017 05:36 PM  |   Last Updated: 07th February 2017 05:36 PM   |  A+A-

Liquor baron Vijay Mallya. | AFP

By Express News Service

BENGALURU: In yet another setback to beleaguered businessman Vijay Mallya, Karnataka High Court on Tuesday ordered winding up of United Breweries (Holdings) Limited (UBHL) in a case related to recovery of dues from Mallya’s now-defunct Kingfisher Airlines.

Justice Vineet Kothari pronounced the judgment through a video conference from Dharwad bench of High Court, while allowing the petition filed by International Aero Engines AG, Connecticut, and USA.

Justice Vineet Kothari, who heard the matter in principal bench of High Court in Bengaluru, delivered the verdict of the petition filed in 2012 by the company for recovery of Rs 153 crores from Mallya and his companies.

It can be recalled that in November last year, the Karnataka High Court had issued directions for winding up of Kingfisher Airlines Limited (KFL) to pay dues to UK based company Aerotron Limited. The KFL had to pay dues of 6.02 million US dollars to Aerotron as on July 4, 2012, for supply of aircraft components.

In December, the Debt Recovery Tribunal had ordered Vijay Mallya to pay Rs 6,203 crores plus interest to a consortium of banks including SBI.



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