Bangalore: Vijay Mallya, the chairman of UB Group, was pushed further into a corner by the Karnataka High Court on Tuesday even as it came down heavily on Mallya for not turning up at the Court as per its orders and said that he should appear on September 25, extending the summon. The HC also offered a ray of hope to the hundreds of employees of UB-Group owned now-grounded Kingfisher Airlines, who have not been paid monthly salaries for over a year now.
There were two developments for these employees when the HC said their case can be heard along with the ongoing hearings of un-secured creditors who are fighting hard to get back their dues of close to Rs 600 crore. In a move that brought relief to the employees, the Court said their petition can be heard along with the other cases against the company. The second important indication from the Court was that a part of the Rs 250 crore deposited by United Breweries Holdings Ltd (UBHL) as part of the case with creditors can be used to pay the salaries.
The High Court has allowed Mallya’s counsel four weeks to submit an update on the revival plan for Kingfisher Airlines, failing which the company would have to draw up an alternate plan to pay Kingfisher employees their salaries.
Read news In Full 18/09/13 Raghuvir Badrinath/Business Standard
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