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 as per a TOI report.
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.
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