Ready to repay loan availed for Kingfisher: Mallya counsel appeals HC not to close UB
Bengaluru, Dec 10: "We are ready to repay the loan availed for Kingfisher Airlines. So, we are appealing against closing United Breweries Holdings Limited (UBHL)", Vijay Mallya counsel appealed the Karnataka High Court.
Following a case filed by the banks to recover the loan amount from Kingfisher, the High Court Single Judge Bench ordered closure of UBHL. But the counsel of Vijay Mallya appealed the HC not to close the UBHL. The HC Divisional Bench headed by Justice L Narayanaswamy heard the case.
Arguing in favour of Mallya, his counsel Sajjan Poovaiah said that the UBHL was ready to repay the loan availed for Kingfisher Airlines. The UBHL property value and shares value was more than Rs 15,000 crore. If they were sold out, they could repay the entire loan amount and even after that they could save around Rs 3,500 crore. With that amount, the UBHL could be operated. So, the HC should stay the closure order, he requested.
The remaining amount would be deposited in the court and the HC has to supervise the loan repayment process, he appealed.
After hearing the argument, the Bench postponed the next hearing of the original application and interim appeal to December 17.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Northwest, central, adjoining east India to witness heatwave conditions for next 4-5 days: IMD
New Delhi (PTI): Heatwave conditions are very likely to prevail over isolated pockets of northwest, central and the adjoining parts of east India for the next four to five days, the India Meteorological Department (IMD) said on Monday.
It said isolated pockets of Haryana, Chandigarh, Delhi, Punjab, East Rajasthan, Vidarbha, Chhattisgarh, West Uttar Pradesh, West Rajasthan, Madhya Pradesh, Gangetic West Bengal, Jharkhand, Odisha and scattered pockets of East Uttar Pradesh are expected to witness heatwave conditions on different dates between April 20 and April 25.
"Hot and humid weather conditions are very likely to prevail in isolated pockets over Gangetic West Bengal during April 20-26; Tamil Nadu, Puducherry and Karaikal during April 20–22; Kerala and Mahe, Coastal Andhra Pradesh and Yanam during April 20-24; coastal areas of Gujarat on April 24 and April 25," the IMD said.
Also, warm night conditions are expected to prevail in isolated pockets over Haryana, Chandigarh, West Uttar Pradesh, Madhya Pradesh, Vidarbha on April 20 and April 21, Chhattisgarh on April 20, and Odisha between April 20 and April 22.
The IMD highlighted that moderate to intense thunderstorm activity can occur over different states of south, central, east and northwest India on Monday.
There is also a possibility of hailstorms over Madhya Maharashtra, Marathawada, Madhya Pradesh Vidarbha and Chhattisgarh on Monday, according to the IMD.
