KING­FISHER AIR­LINES LIM­ITED TO BE WOUND UP

SP's Airbuz - - News Briefs -

In yet an­other jolt to be­lea­guered liquor baron Vi­jay Mallya, the Kar­nataka High Court has or­dered wind­ing up of his nowde­funct King­fisher Air­lines (KFA) Lim­ited for non-pay­ment of dues to a UK-based firm. Pro­nounc­ing the judge­ment, Jus­tice V. Kothari ob­served that since KFA did not pay up dues to Aerotron, the court was or­der­ing wind­ing up of the air­line com­pany. “Ad­mit­tedly the said amount has not been paid within the time pro­vided in the agree­ment be­tween the con­tend­ing par­ties or even there­after. Thus, sat­is­fied that KFA was un­able to pay its debts, the court or­ders the wind­ing up of the air­line com­pany,” Jus­tice Kothari said. As much as 35 crore was due to be paid by KFA to Aerotron, for which an agree­ment was en­tered into be­tween the two com­pa­nies on February 24, 2012, whereby KFA had ac­knowl­edged its li­a­bil­ity to pay the out­stand­ing amounts in in­stall­ments spread over sev­eral months be­tween March and Oc­to­ber 2012.

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