K'taka HC gives Mallya a breather; keeps summon in abeyance

After directing Vijay Mallya to appear before the court on Tuesday for United Breweries Holdings Ltd (UBHL) winding up petition hearing, the Karnataka High Court has this directive in abeyance today giving Mallya a breather, reports CNBC-TV18’s Vineetha Athrey.

The HC has now given UBHL a week to submit the audit report pertaining to the USL- Diageo deal. It is the same report that the court had asked for while passing the order allowing the deal on May 24, 2013. It has kept Mallya’s appearance in abeyance till it gets that report. Also read: Karnataka HC summons Mallya over UBHL winding-up pleas

The HC has also given Kingfisher Airlines four weeks to submit a report on its revival plan. In addition, there's some relief for KFA employees. There are two sets of employees who had impleaded themselves to be included as the affected parties in the winding up petitions. The HC remarked on Tuesday that employees of KFA they can't implead as affected parties of UBHL. So, this application is withdrawn. Meanwhile, the HC admitted the other set of employees’ plea for hearing and said that it would be heard before admitting the KFA winding up petition.