 "Union Bank of India files caveat in SC against Kingfisher Airlines")
Kolkata: State-owned United Bank of India(UBI) has filed a caveat in the Supreme Court againstKingfisher Airlines (KFA) shortly after Calcutta High Courtdivision bench’s judgement was delivered yesterday.
“We filed the caveat against KFA in SC shortly afterCalcutta HC delivered the judgement yesterday”, executivedirector of UBI D Narang told PTI today.
The division bench of the High Court dismissed a KFAappeal against UBI and upheld decision of single judge of not allowing the company to be represented by a lawyer.
The order said that either KFA chairman Vijay Mallyacould appear or send a company representative for the hearing in front of the bank’s grievance redressal panel.
Earlier, UBI had identified Vijay Mallya as a wilfuldefaulter and asked him to appear before the bank’s panel tohear him out before declaring him as a wilful defaulter.
Mallya later moved the court seeking exemption of hisappearance before the panel.
KFA, now grounded, had taken a loan worth of Rs 350 crorefrom the bank.
Several other banks like SBI and PNB were also on thetrail of declaring Mallya a wilful defaulter.
PTI
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