Provide KFA reasons for default notice: HC to PNB

  • HT Correspondent, Hindustan Times, New Delhi
  • |
  • Updated: Aug 27, 2014 23:21 IST

The Delhi High Court on Wednesday said that Punjab National Bank, which has served a notice on Kingfisher Airlines alleging that it has willfully defaulted repayment of dues of over Rs 770 crore, should give to the carrier copies of documents relied upon by the bank.

Justice Vibhu Bakhru, which later decided to hear the matter on Thursady again, also said that the ailing airlines can be allowed to be represented by a lawyer in the proceedings to be conducted by the PSU bank against it.

The counsel for PNB said that airline had been provided with the copy of the loan and other related documents at the the initial stage itself and the demand of the relied upon documents now is a just “ploy” to delay the recovery proceedings.

“In any proceedings, you will have to supply the documents, to be relied upon in drawing an adverse inference, to the other side,” the court said.

 

also read

RBI keeps policy rates on hold at 7.25%

blog comments powered by Disqus