September 2, 2014 8:14 PM

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Vijay Mallya case: SC refuses to interfere with GRC's order

Supreme Court today refused to interfere with the order of Grievance Redressal Committee, GRC of United Bank of India, UBI declaring Vijay Mallya, the promoter of Kingfisher Airlines, as wilful defaulter. Kingfisher Airlines had submitted that the GRC passed the order despite being informed that it has filed an appeal in the Supreme Court against the Calcutta High Court order, dismissing its plea that Mallya and board of directors may be represented by its law officers, or company secretary on a show-cause notice by UBI for alleged wilful default on payment of dues of Rs 400 crore. The apex court said since the Special Leave Petition has become infructuous, Kingfisher can go back to the High Court challenging the order of GRC.UBI yesterday became the first lender to declare debt-ridden Kingfisher Airlines and its promoter VijayMallya as wilful defaulters.

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