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Vijay Mallya case: Banks to file objections to Heineken's impleadment plea today

The Consortium of Banks led by SBI has said that it would be filing objections to Dutch beer major Heineken's application before the Debt Recovery Tribunal seeking to be impleaded in the Vijay Mallya case.


Vijay Mallya case: Banks to file objections to Heineken's impleadment plea today

Zee Media Bureau

New Delhi: The Consortium of Banks led by SBI has said that it would be filing objections to Dutch beer major Heineken's application before the Debt Recovery Tribunal seeking to be impleaded in the Vijay Mallya case.

 

"We will file objections to Heineken's application seeking impleadment in Vijay Mallya case, tomorrow," SBI Senior Counsel Nagananda submitted before DRT Presiding Officer C R Benakanahalli said yesterday.

Heineken on June 18 had sought permission to implead itself in the case and enjoy the right of first refusal over the UBL shares.

 

Heineken has some presumptive rights on UBL shares held and owned by Mallya.

Right of first refusal is a contractual term between shareholders which are usually included in the Articles of Association.

With PTI Inputs

From Zee News

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