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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.

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Like +4 Object -1 BASANTI 29 Aug 14, 21:12
It is really wonderful to see Verus doing so well
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Like +1 Object -1 VEERU 29 Aug 14, 21:12
Go Verus. You guys rock!
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Like +0 Object -1 JAY 30 Aug 14, 12:02
Great going Veerus
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Like +0 Object -1 THAKUR 30 Aug 14, 12:12
Respect !!!
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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?
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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..
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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,
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