UB looks to pay Kingfisher employees

admin
By admin September 27, 2013 09:35

UB looks to pay Kingfisher employees

In a move that endangers lessors further United Breweries Holdings Limited has filed an application before the Karnataka high court seeking permission to pay Rs 13 crore towards one month’s salary to all owed employees. “In view of the fact that Rs 379.75 crore is available in the fixed deposit, the applicant seeks leave of this court to pay an amount of Rs 13,07,14,523 being the quantum of one month’s salary of 2,126 employees of Kingfisher Airlines for the month of August 2012, from out of the said amount in the deposit,” UB seems to be rallying against the lessors/creditors that took it to court. ILFC stayed out of the court case but it too has seen no traction as yet. The flipside to this is that once employees are paid (in full) the local politics should favour the lessors. We shall see.

admin
By admin September 27, 2013 09:35
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