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.
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Man held for cheating IT official by posing as 'parrot astrologer'
Bengaluru (PTI): A 59-year-old man was arrested for allegedly duping an Income Tax department official by posing as a "parrot astrologer" and promising career growth and better life through rituals, police said on Wednesday.
With the arrest of the accused astrologer Shekar, police claimed to have recovered gold ornaments weighing 124 grams and silver articles weighing 796 grams, with a total value of Rs 20.60 lakh.
The matter came to light after the victim, who is a senior administrative officer in the Income Tax department, lodged a complaint at Bharatinagar police station here on March 5, police said.
According to police, in the complaint, the victim stated that while passing near Sri Circle, he was approached by a person claiming to practise parrot astrology. The accused called him over, claimed he could predict the future by looking at his face, and convinced him to perform a ritual.
Initially, the accused collected Rs 50,000 from the complainant. Later, he allegedly told the victim that an elaborate ritual was necessary for career promotion, transfer, and overall improvement in life, and threatened that failure to do so would bring misfortune, he alleged.
"Under this pretext, the accused took 194 grams of gold ornaments and 1.3 kg of silver articles from the complainant, assuring they would be returned after the ritual," police said.
When the complainant later demanded the return of the valuables, the accused allegedly threatened him, they said.
During the investigation, police gathered credible information and apprehended the accused near Cantonment Railway Station on March 12 and upon interrogation, he confessed to committing the offence with the intention of making quick money, a senior police officer said.
He was produced before a court on March 13 and taken into police custody for five days.
During sustained questioning, the accused revealed that he had sold the stolen gold and silver items at a jewellery shop in Halasuru. Based on his information, police recovered 124 grams of gold ornaments and 796 grams of silver articles from the shop on March 15, valued at Rs 20.60 lakh, the officer said.
The accused was again produced before the court on March 17 and was remanded to judicial custody, he added.
