BANGALORE: The Karnataka high court has granted four weeks time to the defunct Kingfisher Airlines Ltd (KFA) for submitting its plans/proposals for reviving the company.
This was after the counsel for the beleagured company told the court that some proposals have been received and they are working out a scheme for reviving the airliner by having talks with investoors. The company also placed before the court in a sealed cover, some of the documents relating to the revival plan.
At this juncture, the counsels for the eomployees of the company and some of the creditors argued that they have not been paid their dues by the company . "Wait. You may get some good news.Any way you have waited for so long.You can wait for four more weeks" Justice S Abdul Nazeer advised them before adjourning the hearing on batch of company petitions seeking initiation of winding up proceedings under the Companies Act.
This was after the counsel for the beleagured company told the court that some proposals have been received and they are working out a scheme for reviving the airliner by having talks with investoors. The company also placed before the court in a sealed cover, some of the documents relating to the revival plan.
At this juncture, the counsels for the eomployees of the company and some of the creditors argued that they have not been paid their dues by the company . "Wait. You may get some good news.Any way you have waited for so long.You can wait for four more weeks" Justice S Abdul Nazeer advised them before adjourning the hearing on batch of company petitions seeking initiation of winding up proceedings under the Companies Act.
While the employees are seeking for a direction to settle their salary dues, which they claim to have not been paid since last one year, some of the companies have filed petitions seeking recovery of dues/service charges from the airliner.
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