New Delhi: In a fresh blow to Vijay Mallya, Karnataka High Court on Tuesday ordered winding up of United Breweries Holding Limited in a case relating to recovery of dues from Vijay Mallya's Kingfisher Airlines.
Mallya's now-defunct Kingfisher Airlines owes over Rs 9,000 crore in loan to the SBI-led consortium of 17 banks.
As per reports, UBHL holds 11.46 percent stake in United Breweries and 2.9 percent stake in United Spirits.
Vijay Mallya holds 52.34 percent stake in UBHL. Karnataka HC gave the order following plea filed by SBI, BNP Paribas and others for recovering their dues from Mallya.
United Breweries (Holdings) last week had said that with CBI seizing its documents and records in the ongoing investigation against Chairman Vijay Mallya, it was unable to file financial results within stipulated time and had sought time up to March 15 to file its quarterly report.
The Chairman of the company is staying in the UK and has been declared Proclaimed Offender by a special PMLA court in Mumbai on a plea of Enforcement Directorate in connection with its money laundering probe against him.
Earlier, in January, CBI had conducted searches in UBHL's office, Mallya's residence, UB towers in Bengaluru in connection with Mallya's loan defaults related to the defunct Kingfisher Airlines.
The investigative agency also arrested senior officials of the defunct airline and former chairman and three other ex-officials of IDBI Bank.
