- Landslide near Pune, 17 deadChicken has antibiotics!PICS: Metro overloaded! Passengers asked to deboardSalman\'s big heart for KidsAamir celebrates Eid with ex wife ReenaMandakini\'s semi-nude photos had created an uproarNo formula for blockbuster movies: Salman KhanSalman and Eid are deadly combo,set to strike Rs 600 CrWorld War I revisitedIndian heroes at CWG 2014
The Indian team at the CWG 2014 Glasgow are doing the nation proud with their medal winnin
Vijay Mallya hopes for out-of-court-settlements on winding up pleas Last Updated : 12 Sep 2013 10:51:31 PM IST File Photo
UB Group chairman Vijay Mallya on Thursday expressed hope that out-of-court settlements could be reached in some of the winding up petitions filed by creditors of United Breweries Holding Limited (UBHL).
"There are five winding up petitions that have been filed before the court in Bangalore, and out of these five, we have serious counter claims against three of the petitioners, which basically leaves two petitioners with whom we are in dialogue for an out of court settlement," he told reporters after UBHL's Annual General Meeting.
Certain companies, including BNP Paribas, which are creditors to UBHL, had filed company petitions in Karnataka High Court seeking winding up of UBHL as the holding company was unable to pay its debts.
UBHL, holding company of the UB Group, is contesting in the Karnataka High Court admission of six winding-up petitions filed by aircraft lessors and financiers of the crisis-hit Kingfisher Airlines last year.
On changes to Mangalore Chemical and Fertilisers Ltd (MCFL) shareholding, Mallya said UBHL was in full control of the company.
"I cannot stop people from buying shares. Neither can I stop people from making claims, but how successful those claims will be only time will tell. As far as I am concerned, we are firmly in control of MCF and intend to remain so," he said.
Deepak Fertilisers holds 24.5 per cent in MCFL, while Poddar's Zuari Agro has around 16 per cent.
All the three companies compete with each other in the fertiliser business, but huge debt load of Vijay Mallya-led group has led to speculations about MCFL being an apparent takeover target for rivals.
Regarding Kingfisher Airlines (KFA)'s revival, Mallya without naming any investors or companies said: "We are in talks with potential investors and it will take some time to convince investors to invest and then revive the company."
Grounded carrier Kingfisher Airlines had accumulated losses of over Rs 16,000 crore as on March 31, 2013, while it had a negative net worth of close to Rs 13,000 crore.
Its long-term borrowings stood at about Rs 6,900 crore, while short-term borrowings were Rs 1,750 crore at the end of last financial year.
Post Your Comment (0 posted):
He is one of the biggest Hollywood celebrities ever and not just that, Arnold Schwarzenegg
- Salman's big heart for Kids
- Aamir celebrates Eid with ex wife Reena
- WATCH: '50 Shades of Grey' trailer most-watched of 2014
- Mandakini's semi-nude photos had created an uproar
- B - Town praises PC’s Mary Kom trailer
- No formula for blockbuster movies: Salman Khan
- Salman and Eid are deadly combo,set to strike Rs 600 Cr
- Kajol to feature in hubby Ajay Devgn's new film
With a string of harrowing incidents that have left the nation enraged, parents have been
Tech giant Apple has reduced the price of its 13-inch non-Retina MacBook Pro by Rs 11,000.