A UK based company had moved the High Court in 2012 seeking its winding up.
In yet another major blow to liquor baron Vijay Mallya, the High Court of Karnataka on Friday ordered winding up of Kingfisher Airlines Limited (KFL).
High Court was hearing a Petition seeking recovery of US $6 million due to a UK-based company.
Petitioner Company was supplying rotable aircraft components to the illfated airline.
Official Liquidator was also directed to take possession of all the assets of the now defunct airline in terms of the provisions of the Companies Act and the Rules. A report is sought in this regard within four weeks.
The order was passed by Justice Vineet Kothari while allowing a petition filed by Aerotron Ltd, a company based in West Sussex, United Kingdom.
The KFL was supposed to pay US $6,023,724.01 to Aerotron Ltd as on 4.7. 2012 of which US $5,192,483.80 was the principal amount.
The petitioner-company had approached the Court in 2012 seeking winding up of the airline in order to recover the amount due.
As per the petition, KFL had admitted its liability and even singed a settlement agreement to clear all the amount, in monthly instalment basis between March and October 2012. But it even failed to make payment as per the settlement.
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