Kar­nataka High Court Or­ders Clo­sure of UBHL

The Economic Times - - Economy: Macro, Micro & More -

In a ma­jor jolt to liquor baron Vi­jay Mallya, the Kar­nataka High Court on Tues­day or­dered the wind­ing up of United Brew­eries (UBHL), the par­ent com­pany of UB Group, for re­cov­er­ing dues payable by the UBHL-pro­moted de­funct King­fisher Airlines. Jus­tice Kothari of the Dhar­wad Bench of the HC pro­nounced the or­der through video con­fer­enc­ing. The cred­i­tors, in­clud­ing BNP Paribas, SBI and air­craft lessors and en­gine mak­ers such as Rolls-Royce and IAE had moved the court to get back their dues of ₹ 146 crore.dded.

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