The Supreme Court on Monday dismissed fugitive industrialist Vijay Mallya’s ‘offer’ to pay the huge dues of United Breweries Holdings (UBHL) to lenders, a move that paves the way for the 102-year-old firm’s winding up and liquidation.
UBHL’s offer to settle its Rs 14,518 crore dues as per the corporate guarantees extended to the defunct Kingfisher Airlines will be no longer valid.
