The State Bank of India-led consortium banks told Supreme Court that close to 3600 crore has been recovered from businessman Vijay Mallya so far.?
The apex court dismissed a plea filed by liquor baron Vijay Mallya¡¯s United Breweries Holdings Limited (UBHL) to challenge a Karnataka High Court order to uphold the winding up of the company for recovery of dues payable by Kingfisher Airlines Ltd.?
A bench headed by Justice UU Lalit declined to entertain the appeal filed by UBHL. The top court thus affirmed the winding up of the 102-year-old parent company of the UB Group.?
The IANS report added that Rs 11,000 are still to be recovered from Mallya and UBHL.?
The total dues of UBHL to its creditors, as per the Karnataka High Court order in February 2018, are around Rs 7,000 crore.?
On September 30, the United Breweries Holding Ltd had told the Supreme Court that it had offered over Rs 14,000 crore to various banks to settle its dues and that the company¡¯s assets exceeded its total debt.?