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SC to examine if assets can be considered for liquidation to settle dues

UBHL has challenged the March 6 order of the Karnataka High Court upholding the decision of a single judge to wind up the company

Supreme Court
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Vaidyanathan told the bench that the court should not uphold winding up of the company as it has far more access assets than its liabilities.

Press Trust of India New Delhi
The Supreme Court Thursday said it would examine whether assets of a company which have been attached by the authorities following legal proceedings can be considered for liquidation to settle financial liabilities.

A bench of Justices U U Lalit and Vineet Saran was informed by senior advocate C S Vaidyanathan, appearing for liquor baron Vijay Mallya's United Breweries (Holding) Ltd (UBHL), that company's assets in totality are far greater than its liabilities.

UBHL has challenged the March 6 order of the Karnataka High Court upholding the decision of a single judge to wind up the company.

Vaidyanathan told the bench

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First Published: Aug 27 2020 | 9:08 PM IST

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