The Delhi HC had earlier set aside PNB's show-cause notice to KFA. The bank had sought a reply to why Kingfisher Airlines should not be declared a willful defaulter.
State-owned lender Punjab National Bank has appealed against Delhi High Court single Judge bench order in the Kingfisher Airlines case. PNB has exposure of about Rs 774 crore to KFA. The Delhi High Court is likely to hear PNB's appeal on October 13.
The Delhi HC had earlier set aside PNB's show-cause notice to KFA. The bank had sought a reply to why Kingfisher Airlines should not be declared a willful defaulter.
KFA has moved to the Delhi High Court and has managed to get relief to the extent of the show-cause notice having being set aside.
The Delhi High Court appreciated PNB for moving expeditiously as far as recovery proceedings are concerned. But the Delhi High Court observed that PNB might have been moving a bit too fast as certain principles of natural justice, which means that legal representation making available certain documents were not provided to KFA and that had been a point of concern from a legal perspective as far as Delhi High Court is concerned.
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