HC asks ED if UBHL shares can be sold to repay banks

High Court of Karnataka on Monday asked the Enforcement Directorate whether shares of United Breweries (Holdings) Ltd (UBHL) attached by it could be sold to repay banks.

A division bench of Chief Justice Subhro Kamal Mukherjee and Justice P S Dinesh Kumar granted three days (April 20) time to the counsel representing the ED to get instructions on the issue.
The bench was hearing an appeal filed by UBHL against the single-bench order to wind up the firm for its failure to discharge the guarantee obligations.

The UBHL counsel informed the court that a large number shares are attached by the ED. He also informed the court that the company had no objections if those shares with ED are sold to repay the loans or deposited with the HC Registrar General to protect banks' interests.

The counsel further said that ED and the Debts Recovery Appellate Tribunal (DRAT) have initiated some procedures. “UBHL has not yet gone to liquidation as the official liquidator has not yet taken charge,'' he said. The bench permitted the management to contest the matter before the ED and the DRAT and adjourned the case to April 20.

STPs for apartments

The High Court of Karnataka issued notices to the state government on penalising apartment complexes without sewage treatment plants.

Hearing a public interest litigation (PIL), a division bench of Chief Justice Subhro Kamal Mukherjee and Justice P S Dinesh Kumar issued notice to Bengaluru Water Supply and Sewerage Board (BWSSB)  and Karnataka State Pollution Control Board (KSPCB) while hearing the petition filed by the federation of apartment associations in Yelahanka.

The petitioner said that they cannot set up the STP as their apartment complex is surrounded by several educational institutions. Setting up of an STP could lead to health hazards, the petitioner contended. The petitioner argued that all the apartments with more than 20 flat units were constructed according to rules at the time of construction. BWSSB has made it mandatory for all apartment complexes with more than 20 units to build an STP.

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