Vijay Mallya & Co fail again, Kingfisher moves Supreme Court

New Delhi, Jan 16:

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Airlines once again failed to impress Directorate General of Civil Aviation (DGCA) over its financial revival plan. The grounded airline officials, during their meeting with aviation regulator on Wednesday, Jan 16, could not provide any required details on its funding.

Meanwhile, the airlines officials moved the Supreme Court challenging Karnataka High Court which had ordered to deposit around Rs 185 crore with the Income Tax Department as tax deducted at source (TDS) from its employees' wages.

According to sources, Sanjay Agarwal, chief executive officer of the airline, did not reveal any information regarding any commitment by the airline's parent company, UB Group, chaired by Mr Mallya.

Mr Agarwal reported to have said that the airline would be ready to resume operations from the Summer Schedule, that begins in Apr 2013.

On the contrary, the airline challenged the Dec 5 order of the High Court that directed it to deposit 50 per cent of the Rs 371 crore-payment to IT department. It had also asked the company to furnish a bank guarantee for the remaining amount within six weeks.

The company contended, in its petition, that the amount due is much less than the demand made by the I-T Department.

OneIndia News
(With PTI inputs)