In a major jolt to liquor baron Vijay Mallya, the Karnataka High Court on Tuesday ordered the winding up of United Breweries (Holdings) Ltd (UBHL), the parent company of the UB Group, for recovering dues payable by UBHL-promoted defunct Kingfisher Airlines Ltd.
A report in The Indian Express said it is the change in stance of United Spirits on the liquidation that could have facilitated the court’s order.
“This court has come to a conclusion that the respondent company UBHL deserves to be wound up for failure to discharge their duties to pay up their creditors,” Justice Vineet Kothari said in his order allowing petitions by banks and aircaft lessors.
Vijay Mallya. Reuters
Justice Kothari of the Dharwad Bench of the High Court pronounced t…
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