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The Karnataka High Court Monday adjourned to December 20 the hearing on a plea which sought not to wind up liquor baron Vijay Mallya-linked UBHL and give the company an opportunity to clear the debts related to his defunct Kingfisher Airlines Limited.
The bankers and creditors have been pressing for closure of the company to clear the debts owed by Mallya, wanted for alleged bank fraud and money laundering amounting to an estimated Rs 9,000 crore.
During the hearing Monday, UBHL counsel Sajjan Poovayya submitted that there was no need to wind up the company as it has enough assets to repay the creditors.
Poovayya said the company would furnish details of its assets and the court can auction them and the recovered money can be deposited with it.
He submitted that the company would get about
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