Subscribe for perks & to support LI

Your Interests & Preferences: Personalise your reading

Which best describes your role and/or interests?

I work in a law firm
I work for a company / in-house
I'm a litigator at the bar
I'm a law student
Aspiring law student
Other
Save setting
Or click here to show more preferences...

I am interested in the following types of stories (uncheck to hide from frontpage)

Firms / In-House
Deals
Courts
Legal Education

Always show me: (overrides the above)

Exclusives & Editor's Picks

Website Look & Feel

Light Text on Dark Background

Save preferences


Note: Your preferences will be saved in your browser. You can always change your settings by clicking the Your Preferences button at the top of every page.

Reset preferences to defaults?

Verus for UBI on Kingfisher Airlines Rs 400 crore default battle

Verus advised the United Bank of India (UBI) which won in the Calcutta high court yesterday against Kingfisher Airlines. The high court dismissed Kingfisher’s appeal against a single judge order disallowing Kingfisher’s request for legal representation in wilful defaulter notice served on the Airlines by UBI.

Verus partner Krishnayan Sen and associate Prantar Basu Choudhury acted for UBI having briefed senior advocate Hirak Mitra.

Kingfisher was represented by senior advocates Sudipto Sarkar and Siddharta Mitra.

UBI’s “committee of identification of wilful defaulters” had told Kingfisher Airlines on 28 May that it had identified it as a potential wilful defaulter of UBI’s dues up to Rs 400 crore. It was called upon to make representations to the Committee for which Kingfisher requested the use of lawyers. However the committee informed it that an RBI circular did not permit it to use legal representation in this case.

Kingfisher filed a writ before the Calcutta high court for withdrawal of the notices and also for the direction that it could use legal representation in such proceedings. The writ was dismissed by a single judge on 10 July, and a letters patent appeal against it was dismissed yesterday.

The single judge order which was upheld by the division bench yesterday stated that Kingfisher Airlines founder Vijay Mallya and its board of directors may be represented by its in house legal and company secretary team in the proceedings, reported the Economic Times.

UBI has today filed a caveat in the Supreme Court against Kingfisher Airlines, reported the PTI.

Click to show 7 comments
at your own risk
(alt+shift+c)
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.
refresh Filter out low-rated comments. Show all comments. Sort chronologically
1
Show?
Like +4 Object -1 BASANTI 29 Aug 14, 21:12
It is really wonderful to see Verus doing so well
Reply Report to LI
2
Show?
Like +1 Object -1 VEERU 29 Aug 14, 21:12
Go Verus. You guys rock!
Reply Report to LI
3
Show?
Like +0 Object -1 JAY 30 Aug 14, 12:02
Great going Veerus
Reply Report to LI
4
Show?
Like +0 Object -1 THAKUR 30 Aug 14, 12:12
Respect !!!
Reply Report to LI
5
Show?
Like +1 Object -0 Guest 30 Aug 14, 21:20
How does Kingfisher manage to pay senior counsels? The last I heard they had collected service tax and not paid them in. Or is UB paying for all this?
Reply Report to LI
6
Show?
Like +0 Object -0 Court 01 Sep 14, 10:19
The first paragraph seems to indicate there was also a lower court order? or did you mean order of a single judge bench of the same court? It's not a lower court then..
Reply Report to LI
6.1
Show?
Like +0 Object -0 Prachishrivastava 01 Sep 14, 11:37
Of course it is not! Thanks for pointing out, was an accidental slip which we have corrected now.

Best wishes,
Prachi
Reply Report to LI


Latest comments