Kingfisher Airlines withdraws its plea in SC

Jul 21 2014, 20:48 IST
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Kingfisher Airlines today withdrew in Supreme Court its appeal against Karnataka High Court's verdict allowing consortium of banks led by State Bank of India to take possession of its prestigious property Kingfisher House in Mumbai. (Photo source: Reuters) Kingfisher Airlines today withdrew in Supreme Court its appeal against Karnataka High Court's verdict allowing consortium of banks led by State Bank of India to take possession of its prestigious property Kingfisher House in Mumbai. (Photo source: Reuters)
SummaryThe Airlines had moved the Supreme Court challenging the high court's January 29 verdict that allowed a consortium of banks to take possession of Kingfisher House.

Kingfisher Airlines today withdrew in Supreme Court its appeal against Karnataka High Court's verdict allowing consortium of banks led by State Bank of India to take possession of its prestigious property Kingfisher House in Mumbai.

As soon as the matter came for hearing before a bench headed by Justice J S Khehar, the company pleaded the court to allow it to withdraw the petition.

The Airlines had moved the Supreme Court challenging the high court's January 29 verdict that allowed a consortium of banks to take possession of Kingfisher House.

The banks seeking possession and sale of the property are State Bank of India, Axis Bank Ltd, Bank of Baroda, Bank of India, Central Bank of India, Corporation Bank, Federal Bank Ltd, IDBI Bank Ltd, Indian Overseas Bank, Jammu & Kashmir Bank Ltd, Punjab & Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, and United Bank of India.

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