News Karnataka
Friday, March 29 2024
Cricket
Bengaluru

United Breweries (Holdings) Ltd can defend itself: HC

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Bengaluru: The Karnataka High Court has passed an interim order allowing the management of the United Breweries (Holdings) Ltd., which is ordered to be liquidated, to represent and defend itself before various forums, including the Enforcement Directorate (ED), Debt Recover Tribunal and Debt Recovery Appellate Tribunal in various proceedings against the company for now.A Division Bench comprising Chief Justice Subhro Kamal Mukherjee and Justice P.S. Dinesh Kumar passed the interim order after noticing that the official liquidator has not yet taken charge of the UBHL pursuant to the order passed by a single judge bench, which in February this year had ordered for winding up of UBHL to recover dues to the unsecured and the secured creditors as per its corporate guarantee extended to Kingfisher Airlines Ltd. (KFA).

Meanwhile, the Bench asked the counsel representing the ED to seek instructions from the directorate to a proposal made by the UBHL to sell about 41 lakh shares of United Spirits Ltd. (USL), which were held by the UBHL and now under attachment by the ED in connection with a case registered under the Prevention of Money Laundering Act against businessman Vijay Mallya.

The Bench adjourned further hearing till April 20.

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