SC to examine if assets can be considered for liquidation to settle dues

The Supreme Court Thursday said it would examine whether assets of a company which have been attached by the authorities following legal proceedings can be considered for liquidation to settle financial liabilities.

A bench of Justices U U Lalit and Vineet Saran was informed by senior advocate C S Vaidyanathan, appearing for liquor baron Vijay Mallya's United Breweries (Holding) Ltd (UBHL), that company's assets in totality are far greater than its liabilities.

UBHL has challenged the March 6 order of the Karnataka High Court upholding the decision of a single judge to wind up the company.

Vaidyanathan told the bench