<p>The Karnataka High Court on Monday adjourned a batch of appeals by banks and trade creditors, including an appeal by United Breweries Holdings Limited (UBHL) seeking permission to sell shares under the supervision of a court-appointed committee, to December 17.</p>.<p>The UBHL counsel sought for the court’s permission to allow the sale of shares and to stop the winding up proceedings.</p>.<p>The counsel also contended that if the shares of the company — part of the assets seized by the Enforcement Directorate — are sold in addition to the deposit lying with the HC, about Rs 15,100 crore can be realised.</p>.<p>He also added that Rs 15,100 crore would be an additional Rs 3,500 crore than all the outstanding dues, thus making it unnecessary for the court to go ahead<br />with the winding up proceedings.</p>.<p class="CrossHead">Order challenged</p>.<p>UBHL has challenged the February 7, 2017 order passed by a single bench (company judge) which had directed the winding up of the company which stood as corporate guarantor for loans extended to the now defunct Kingfisher Airlines Limited.</p>
<p>The Karnataka High Court on Monday adjourned a batch of appeals by banks and trade creditors, including an appeal by United Breweries Holdings Limited (UBHL) seeking permission to sell shares under the supervision of a court-appointed committee, to December 17.</p>.<p>The UBHL counsel sought for the court’s permission to allow the sale of shares and to stop the winding up proceedings.</p>.<p>The counsel also contended that if the shares of the company — part of the assets seized by the Enforcement Directorate — are sold in addition to the deposit lying with the HC, about Rs 15,100 crore can be realised.</p>.<p>He also added that Rs 15,100 crore would be an additional Rs 3,500 crore than all the outstanding dues, thus making it unnecessary for the court to go ahead<br />with the winding up proceedings.</p>.<p class="CrossHead">Order challenged</p>.<p>UBHL has challenged the February 7, 2017 order passed by a single bench (company judge) which had directed the winding up of the company which stood as corporate guarantor for loans extended to the now defunct Kingfisher Airlines Limited.</p>
