Justice Anand Byrareddy of the high court on Friday admitted a petition filed by SBI and a consortium of 13 banks. They have sought the winding up of the beleagueredKingfisher Airlines Ltd (KAL).
The judge deferred the hearing as well as the process of issuing public notice about the winding-up process till the second week of January in order to hear arguments from both sides.
KAL counsel submitted a copy of an email sent to SBI with regard to the steps being initiated for reviving the company, including engaging the banks directly, the biggest creditors in the process.
However, banks' counsel told the court that no details are forthcoming about the revival in this communication. He added that KAL could have engaged the banks much earlier.
The judge extended the interim order restraining the SBICAP trustee company from taking possession of Kingfisher House, a prime property in Mumbai, which also houses the airline's main office.
The judge deferred the hearing as well as the process of issuing public notice about the winding-up process till the second week of January in order to hear arguments from both sides.
KAL counsel submitted a copy of an email sent to SBI with regard to the steps being initiated for reviving the company, including engaging the banks directly, the biggest creditors in the process.
However, banks' counsel told the court that no details are forthcoming about the revival in this communication. He added that KAL could have engaged the banks much earlier.
The judge extended the interim order restraining the SBICAP trustee company from taking possession of Kingfisher House, a prime property in Mumbai, which also houses the airline's main office.
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