Union Bank of India files caveat in SC against Kingfisher Airlines

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.

hidden August 29, 2014 16:34:34 IST
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

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

SC rejects SBI plea for resuming insolvency proceedings against Anil Ambani; matter listed for 6 Oct
Business

SC rejects SBI plea for resuming insolvency proceedings against Anil Ambani; matter listed for 6 Oct

The State Bank of India had moved the apex court to recover Rs 1,200 crore that it had loaned to two firms of the then-chairman of Reliance Communications

Delhi HC issues notice to Centre seeking stand on Rakul Preet Singh's plea against media trial in Rhea Chakraborty drug probe
Entertainment

Delhi HC issues notice to Centre seeking stand on Rakul Preet Singh's plea against media trial in Rhea Chakraborty drug probe

Rakul Preet Singh had approached Delhi High Court alleging media trial over reports that she had been named by Rhea Chakraborty as among those within Bollywood who consume drugs.

Same-sex couples of all faiths must get right to marry, not just under Hindu Marriage Act
India

Same-sex couples of all faiths must get right to marry, not just under Hindu Marriage Act

The time to allow same-sex marriages or civil unions has come. But problematic areas should be ironed out, and the right should be given to Indians of all faiths