HC admits 6 more winding up pleas against UBHL

The High Court on Friday admitted six new winding up petitions against United Breweries Holdings Limited (UBHL), seeking to wind up the company since it (UBHL) had not been able to pay the dues to them.

The petitions are filed by companies from United Kingdom and Switzerland which have supplied aircraft engine and provided technical support to Kingfisher Airlines Limited, along with a consortium of banks.

The petitioners have contended that as the Kingfisher failed to pay the dues, UBHL, its holding company, had executed the corporate guarantee. Since Kingfisher is not in a condition to pay the dues, the petitioners have sought for winding up of UBHL for recovery of the dues.

However, UBHL contended that it had already deposited Rs 1,250 crore and sought more time. Justice A S Bopanna, who heard the matter, observed that the amount will not satisfy the claim.

The court observed that an attempt was being made by the company by taking all possible technical defence only to wriggle out of the situation. The matter is likely to come up for hearing next month.