Kingfisher Airlines settles GMR dues, warrants against Vijay Mallya withdrawn

HYDERABAD: The ailing airline Kingfisher Airlines (KFA) has on Wednesday cleared the Rs 10.5 crore of dues to GMR, the owner of Hyderabad International Airport, and arrived at a settlement to cancel the non-bailable warrants served on its chairman Vijay Mallya and four senior executives.

Jeevan, counsel of GMR, told ET, “KFA has approached the 13th metropolitan magistrate court at Erramanjil in Hyderabad with a settlement proposal and cleared the Rs 10.5 crore of dues to GMR. Accordingly, the court has agreed to close the case and the warrants issued against Vijay Mallya and other senior KFA Airlines officials were withdrawn.”

The court had on last Friday ordered serving non-bailable warrants against Mallya, KFA’s chief executive officer Sanjay Aggarwal, chief financial officer A. Raghunathan and two other senior executives.

The court had served these notices responding to a petition filed GMR accusing KFA of dishourning Rs 10.5 crore of cheques issued towards user charges at the Hyderabad International Airport. The court had ordered executing the warrants on the KFA top brass before November 5.