UBHL files plea against Karnataka HC's wind-up order: Sources

In a bid to save the company, United Breweries Holding Limited (UBHL) has filed an appeal in the Karnataka High Court seeking to set aside the winding up order against it, sources say. On February 7, Karnataka HC had passed the wind-up order against UB Holdings, as it had failed to pay off its creditors including names like BNP Paribas and State Bank of India. The lenders of Kingfisher Airlines had filed a case against UBHL seeking dues from the now defunct airlines. In the petition, the company has also asked permission to run it with the existing management. It has conceded that Enforcement Directorate’s attachment of properties worth Rs 4,200 crore makes no case for an official liquidator in the company. UBHL also said that it intends to pay off its liabilities, but requires time. Watch video for more...