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.
Manipur: Mortal remains of children killed in bomb attack handed over to family
Imphal (PTI): The mortal remains of two children, who were killed in a bomb attack in Manipur's Bishnupur district in April, were handed over to family members on Saturday, officials said.
The bodies of the five-year-old boy and his six-month-old sister were kept in the morgue for 25 days, as the family members had refused to accept the mortal remains, demanding that the perpetrators be brought to book at the earliest.
On April 25, Chief Minister Y Khemchand Singh had appealed to the family members of the children to accept the bodies. Singh had also said that all efforts were underway to find the culprits.
The two children were killed in a bomb attack at Tronglaobi in Bishnupur district on April 7. Their bodies were kept in the morgue at the Regional Institute of Medical Sciences in Imphal.
The incident had triggered widespread violent protests in the five valley districts of Manipur, and the case was subsequently handed over to the NIA.
Hundreds of people lined up along the way to Tronglaobi to offer floral tributes, as the mortal remains were taken for the last rites in an open vehicle earlier in the day.
