Monday, November 14, 2011

Writ Petition against Kingfisher Airlines

Dear friends,

I thought I should share this news item about a Writ Petition my wife Dr Nutan has filed today in the Allahabad High Court against the Kingfisher Airlines.
This might give an interesting aspect to debate on

Amitabh
# 94155-34525


Today I filed a Writ Petition in Allahabad High Court, Lucknow related with the way the Government of India is giving signals and are issuing statements in media and newspapers to provide financial assistance of Kingfisher Airlines Limited controlled primarily by Dr Vijay Mallya, Chairman of this AirlinesThe Writ is against the way senior Ministers issued statements about various government organizations and the government controlled financial institutions giving financial assistance and support to the Kingfisher Airlines which will certainly result in loss to public exchequer. I have requested the High Court to direct the Government of India not to do anything through by-passing, superseding or tampering any of the current legal, fiscal, monetary, economic or financial laws, rules and regulations to support or bail out Kingfisher Airlines Limited if there is any adverse impact on government money or loss to public exchequer due to this.
 
I have said that this shall not be done firstly because it is a purely private enterprise with the sole motivating factor of profit, secondly because both the Kingfisher Airlines and its Chairman Dr Mallya have reputation of extreme consumerism, vulgar flamboyancy and personification of a luxurious life, with least public concern. In the petition I said that even previously on November 25, 2010 Kingfisher Airlines Ltd had informed the Bombay Stock Exchange (BSE) about a Debt Recast Package (DRP) with lending banks, following a one-time relaxation in restructuring guidelines sanctioned by the Reserve Bank of India. I have also quoted Kingfisher's statement in Writ Petition No 3028 of 2011 (Dr Nutan Thakur vs Union of India) pending in the same Bench where the company said that it is a private enterprise and any attempt by the government to try and impose any unreasonable restrictions on trade and business of a private airline is unwarranted. I also gave reference about the McDowell Krest (an NBFC) under the umbrella of UB Group, where Dr Mallya has been alleged to have siphoned public money and later changed the name of company to Krest Finlease, and declared it Bankrupt.
Based on all these background information, I have prayed before the High Court to restrict the Government of India from providing any financial package to Kingfisher Airlines which results in loss of public exchequer. Asok Pande is the Counsel for the petition. The hearing of the Petition shall be on 16/11/2011

Dr Nutan Thakur
Social activist and Convener of National RTI Forum,
Lucknow
# 94155-34525

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